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

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

Forrester Research Price Performance

Shares of NASDAQ FORR opened at $17.61 on Wednesday. The company has a market capitalization of $341.46 million, a PE ratio of 103.59, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. Forrester Research has a twelve month low of $17.26 and a twelve month high of $32.79. The firm has a fifty day simple moving average of $19.90 and a 200 day simple moving average of $23.25.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results 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 business had revenue of $118.09 million for the quarter, compared to analyst estimates of $116.43 million. Forrester Research had a return on equity of 10.77% and a net margin of 0.63%. On average, sell-side analysts forecast that Forrester Research will post 1.04 EPS for the current year.

Insider Buying and Selling at Forrester Research

In other news, Director Robert Galford sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $20.73, for a total transaction of $269,490.00. Following the completion of the sale, the director now owns 20,489 shares of the company’s stock, valued at approximately $424,736.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

Large investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in shares of Forrester Research during the 4th quarter worth about $28,000. PNC Financial Services Group Inc. raised its stake in Forrester Research by 52.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock worth $42,000 after buying an additional 533 shares during the period. SG Americas Securities LLC bought a new position in Forrester Research in the third quarter worth approximately $105,000. Illinois Municipal Retirement Fund acquired a new stake in Forrester Research in the third quarter valued at approximately $201,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Forrester Research in the third quarter valued at approximately $206,000. 55.20% of the stock is currently owned by institutional investors and hedge funds.

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.