Forrester Research (FORR) Stock Rating Lowered by BidaskClub

Forrester Research (NASDAQ:FORR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, Zacks Investment Research cut Forrester Research from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 26th.

Forrester Research (FORR) opened at $41.45 on Wednesday. Forrester Research has a 1-year low of $36.06 and a 1-year high of $47.75. The company has a market capitalization of $729.78, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 3.19 and a beta of 0.39.

Forrester Research (NASDAQ:FORR) last released its earnings results on Wednesday, February 7th. The technology company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Forrester Research had a return on equity of 11.47% and a net margin of 4.48%. The firm had revenue of $90.38 million for the quarter, compared to the consensus estimate of $84.85 million. During the same period in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts predict that Forrester Research will post 1.06 earnings per share for the current year.

In other news, Director George Hornig sold 11,530 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $46.62, for a total transaction of $537,528.60. Following the sale, the director now directly owns 18,921 shares in the company, valued at approximately $882,097.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael A. Doyle sold 10,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.09, for a total value of $460,900.00. Following the sale, the chief financial officer now owns 31,562 shares in the company, valued at $1,454,692.58. The disclosure for this sale can be found here. Insiders have sold a total of 23,455 shares of company stock worth $1,085,922 over the last quarter. Insiders own 44.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Forrester Research by 6.0% during the 4th quarter. BlackRock Inc. now owns 1,331,814 shares of the technology company’s stock worth $58,866,000 after purchasing an additional 75,907 shares during the period. Vanguard Group Inc. raised its position in shares of Forrester Research by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 961,242 shares of the technology company’s stock worth $37,633,000 after purchasing an additional 44,180 shares during the period. Ballentine Partners LLC raised its position in shares of Forrester Research by 50.0% during the 4th quarter. Ballentine Partners LLC now owns 750,037 shares of the technology company’s stock worth $33,152,000 after purchasing an additional 250,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Forrester Research by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 719,604 shares of the technology company’s stock worth $30,116,000 after purchasing an additional 8,216 shares during the period. Finally, Renaissance Technologies LLC increased its position in Forrester Research by 3.2% in the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the technology company’s stock valued at $28,787,000 after acquiring an additional 19,900 shares during the period. Institutional investors and hedge funds own 56.35% of the company’s stock.

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Forrester Research Company Profile

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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