Forrester Research (FORR) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Forrester Research (NASDAQ:FORR) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Separately, Zacks Investment Research lowered shares of Forrester Research from a strong-buy rating to a hold rating in a report on Tuesday, December 26th.

Forrester Research (NASDAQ FORR) remained flat at $$43.95 during trading on Friday. The company had a trading volume of 17,200 shares, compared to its average volume of 39,640. The company has a market capitalization of $790.00, a PE ratio of 42.67, a price-to-earnings-growth ratio of 3.52 and a beta of 0.46. Forrester Research has a 12-month low of $34.95 and a 12-month high of $47.75.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, December 5th. Forrester Research’s dividend payout ratio is 73.79%.

In other Forrester Research news, Director Gretchen Teichgraeber sold 1,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 8,770 shares of the company’s stock, valued at approximately $394,650. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott Chouinard sold 887 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 24,722 shares of company stock valued at $1,142,617 over the last three months. 44.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FORR. BNP Paribas Arbitrage SA grew its holdings in Forrester Research by 51.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,082 shares of the technology company’s stock valued at $121,000 after buying an additional 1,051 shares in the last quarter. Municipal Employees Retirement System of Michigan grew 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 buying an additional 1,370 shares in the last quarter. QS Investors LLC grew its holdings in Forrester Research by 9.7% during the 2nd quarter. QS Investors LLC now owns 6,130 shares of the technology company’s stock valued at $240,000 after buying an additional 544 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Forrester Research during the 2nd quarter valued at approximately $307,000. Finally, GSA Capital Partners LLP purchased a new stake in Forrester Research during the 2nd quarter valued at approximately $318,000. 54.27% of the stock is 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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