StockNews.com Lowers Forrester Research (NASDAQ:FORR) to Hold

StockNews.com lowered shares of Forrester Research (NASDAQ:FORR) from a buy rating to a hold rating in a report issued on Wednesday morning.

Forrester Research Stock Performance

NASDAQ:FORR opened at $18.19 on Wednesday. The business’s fifty day moving average is $19.86 and its 200 day moving average is $23.10. The firm has a market cap of $352.70 million, a price-to-earnings ratio of 606.33, a PEG ratio of 1.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Forrester Research has a 52-week low of $17.26 and a 52-week high of $32.79.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Forrester Research had a net margin of 0.10% and a return on equity of 9.26%. The company had revenue of $118.09 million for the quarter, compared to the consensus estimate of $116.43 million. Research analysts predict that Forrester Research will post 1.04 EPS for the current year.

Insider Activity

In related news, Director Robert Galford sold 13,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $20.73, for a total value of $269,490.00. Following the sale, the director now owns 20,489 shares in the company, valued at $424,736.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP grew its stake in Forrester Research by 44.4% in the 1st quarter. GSA Capital Partners LLP now owns 58,098 shares of the technology company’s stock worth $1,253,000 after buying an additional 17,864 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Forrester Research by 63.2% during the 1st quarter. BNP Paribas Financial Markets now owns 24,023 shares of the technology company’s stock worth $518,000 after acquiring an additional 9,299 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Forrester Research by 52.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock worth $42,000 after acquiring an additional 533 shares in the last quarter. Wellington Management Group LLP purchased a new position in Forrester Research in the fourth quarter worth $2,327,000. Finally, Quest Partners LLC bought a new position in Forrester Research in the fourth quarter valued at $28,000. 55.20% of the stock is currently owned by institutional investors.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.