PNC Financial Services Group Inc. Cuts Holdings in Forrester Research, Inc. $FORR

PNC Financial Services Group Inc. trimmed its holdings in shares of Forrester Research, Inc. (NASDAQ:FORR) by 11.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,298 shares of the technology company’s stock after selling 1,706 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Forrester Research were worth $123,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake in Forrester Research by 150.1% during the 1st quarter. Federated Hermes Inc. now owns 250,364 shares of the technology company’s stock valued at $2,313,000 after purchasing an additional 150,265 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Forrester Research by 8.4% in the 1st quarter. Bank of New York Mellon Corp now owns 47,903 shares of the technology company’s stock worth $443,000 after buying an additional 3,699 shares during the last quarter. Acuitas Investments LLC purchased a new position in shares of Forrester Research in the 1st quarter worth $426,000. Squarepoint Ops LLC boosted its stake in shares of Forrester Research by 23.0% in the 4th quarter. Squarepoint Ops LLC now owns 12,944 shares of the technology company’s stock worth $203,000 after buying an additional 2,418 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Forrester Research by 57.1% in the 4th quarter. Millennium Management LLC now owns 120,713 shares of the technology company’s stock worth $1,892,000 after buying an additional 43,851 shares during the last quarter. 55.20% of the stock is currently owned by hedge funds and other institutional investors.

Forrester Research Price Performance

NASDAQ:FORR opened at $9.44 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.22. The business’s 50-day simple moving average is $10.08 and its two-hundred day simple moving average is $10.45. The stock has a market cap of $179.93 million, a PE ratio of -2.01, a P/E/G ratio of 0.87 and a beta of 0.94. Forrester Research, Inc. has a 52 week low of $8.50 and a 52 week high of $19.74.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Forrester Research from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.