Zacks Investment Research Downgrades Forrester Research (FORR) to Hold

Forrester Research (NASDAQ:FORR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Forrester Research, Inc. is a global research and advisory firm serving professionals in 13 key roles across three distinct client segments. Their clients face progressively complex business and technology decisions every day. To help them understand, strategize, and act upon opportunities brought by change, Forrester provides proprietary research, consumer and business data, custom consulting, events and online communities, and peer-to-peer executive programs. They guide leaders in business technology, marketing and strategy, and the technology industry through independent fact-based insight, ensuring their business success today and tomorrow. “

Separately, BidaskClub downgraded Forrester Research from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th.

Shares of Forrester Research (NASDAQ FORR) opened at $44.70 on Tuesday. Forrester Research has a 1 year low of $34.95 and a 1 year high of $47.75. The firm has a market capitalization of $807.08, a PE ratio of 43.40, a P/E/G ratio of 4.07 and a beta of 0.46.

Forrester Research (NASDAQ:FORR) last released its earnings results on Wednesday, October 25th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $80.40 million for the quarter, compared to the consensus estimate of $78.92 million. Forrester Research had a return on equity of 13.80% and a net margin of 5.70%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. equities research analysts anticipate that Forrester Research will post 0.92 EPS for the current fiscal year.

In other Forrester Research news, insider Scott Chouinard sold 887 shares of Forrester Research stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.25, for a total transaction of $39,249.75. Following the sale, the insider now directly owns 2,261 shares of the company’s stock, valued at $100,049.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Hornig sold 11,530 shares of Forrester Research stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $46.62, for a total value of $537,528.60. Following the sale, the director now directly owns 18,921 shares in the company, valued at $882,097.02. The disclosure for this sale can be found here. Insiders have sold 24,722 shares of company stock worth $1,142,617 over the last ninety days. Company insiders own 44.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FORR. Ballentine Partners LLC boosted its holdings in shares of Forrester Research by 100.0% in the 3rd quarter. Ballentine Partners LLC now owns 500,037 shares of the technology company’s stock worth $20,927,000 after acquiring an additional 250,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Forrester Research by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 961,242 shares of the technology company’s stock worth $37,633,000 after acquiring an additional 44,180 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Forrester Research by 5.7% in the 2nd quarter. Renaissance Technologies LLC now owns 585,600 shares of the technology company’s stock worth $22,926,000 after acquiring an additional 31,400 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Forrester Research by 144.2% in the 2nd quarter. Martingale Asset Management L P now owns 42,004 shares of the technology company’s stock worth $1,645,000 after acquiring an additional 24,800 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Forrester Research by 10.1% in the 2nd quarter. Northern Trust Corp now owns 152,154 shares of the technology company’s stock worth $5,956,000 after acquiring an additional 14,003 shares in the last quarter. 54.27% of the stock is currently owned by institutional investors and hedge funds.

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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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