Forrester Research (NASDAQ:FORR) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Forrester Research (NASDAQ:FORR) from a buy rating to a hold rating in a research report released on Friday morning.

Forrester Research Price Performance

Shares of FORR opened at $18.75 on Friday. The firm has a market capitalization of $363.56 million, a PE ratio of 110.29, a price-to-earnings-growth ratio of 1.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Forrester Research has a 1-year low of $18.30 and a 1-year high of $33.75. The company’s fifty day moving average price is $20.29 and its 200-day moving average price is $23.94.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $118.09 million for the quarter, compared to analysts’ expectations of $116.43 million. Forrester Research had a net margin of 0.63% and a return on equity of 10.77%. On average, equities research analysts predict that Forrester Research will post 1.04 EPS for the current year.

Insider Activity

In other Forrester Research news, Director Robert Galford sold 13,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $20.73, for a total value of $269,490.00. Following the sale, the director now directly owns 20,489 shares of the company’s stock, valued at $424,736.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

Hedge funds have recently added to or reduced their stakes in the business. Total Clarity Wealth Management Inc. boosted its holdings in Forrester Research by 135.9% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 16,795 shares of the technology company’s stock valued at $450,000 after purchasing an additional 9,674 shares during the last quarter. Swiss National Bank boosted its holdings in Forrester Research by 2.8% in the third quarter. Swiss National Bank now owns 25,350 shares of the technology company’s stock valued at $733,000 after purchasing an additional 700 shares during the last quarter. M&T Bank Corp boosted its holdings in Forrester Research by 20.2% in the third quarter. M&T Bank Corp now owns 57,573 shares of the technology company’s stock valued at $1,664,000 after purchasing an additional 9,656 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Forrester Research by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,389,683 shares of the technology company’s stock valued at $40,162,000 after purchasing an additional 7,316 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Forrester Research by 22.2% in the third quarter. Barclays PLC now owns 16,191 shares of the technology company’s stock valued at $468,000 after purchasing an additional 2,942 shares during the last quarter. 55.20% of the stock is owned by hedge funds and other institutional investors.

About Forrester Research

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.