Forrester Research (FORR) Rating Lowered to Buy at BidaskClub

Forrester Research (NASDAQ:FORR) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Separately, Zacks Investment Research upgraded shares of Forrester Research from a “sell” rating to a “hold” rating in a report on Monday, August 14th.

Shares of Forrester Research (NASDAQ FORR) traded down $0.40 on Tuesday, hitting $43.95. 39,100 shares of the stock were exchanged, compared to its average volume of 44,333. The stock has a market cap of $797.19, a P/E ratio of 43.06, a PEG ratio of 4.02 and a beta of 0.46. Forrester Research has a 1-year low of $34.95 and a 1-year high of $47.75.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. The business had revenue of $80.40 million during the quarter, compared to the consensus estimate of $78.92 million. Forrester Research had a net margin of 5.70% and a return on equity of 13.80%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. sell-side analysts forecast that Forrester Research will post 0.92 earnings per share for the current fiscal year.

In other news, insider Scott Chouinard sold 887 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $44.25, for a total value of $39,249.75. Following the completion of the transaction, the insider now owns 2,261 shares in the company, valued at approximately $100,049.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael A. Doyle sold 10,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.09, for a total transaction of $460,900.00. Following the completion of the transaction, the chief financial officer now owns 31,562 shares of the company’s stock, valued at approximately $1,454,692.58. The disclosure for this sale can be found here. Insiders sold a total of 23,722 shares of company stock valued at $1,097,617 in the last quarter. Insiders own 44.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Forrester Research by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 719,604 shares of the technology company’s stock valued at $30,116,000 after acquiring an additional 8,216 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Forrester Research by 5.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 40,766 shares of the technology company’s stock valued at $1,707,000 after acquiring an additional 2,081 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Forrester Research by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,351 shares of the technology company’s stock valued at $644,000 after acquiring an additional 1,426 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Forrester Research by 59.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,370 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Forrester Research by 38.7% during the 3rd quarter. New York State Common Retirement Fund now owns 16,500 shares of the technology company’s stock valued at $691,000 after acquiring an additional 4,600 shares in the last quarter. Hedge funds and other institutional investors own 54.42% of the company’s stock.

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About Forrester Research

Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.

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