Forrester Research (NASDAQ:FORR) Lifted to “Buy” at StockNews.com

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

Forrester Research Stock Performance

NASDAQ:FORR opened at $19.26 on Thursday. Forrester Research has a 1 year low of $18.64 and a 1 year high of $34.00. The firm has a 50 day moving average of $20.70 and a 200-day moving average of $24.16. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $373.53 million, a P/E ratio of 113.29, a price-to-earnings-growth ratio of 1.37 and a beta of 0.91.

Forrester Research (NASDAQ:FORR) last posted its earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Forrester Research had a net margin of 0.63% and a return on equity of 10.77%. The firm had revenue of $118.09 million during the quarter, compared to the consensus estimate of $116.43 million. As a group, sell-side analysts anticipate that Forrester Research will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Galford sold 13,000 shares of the business’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 value of $269,490.00. Following the completion of the transaction, the director now owns 20,489 shares in the company, valued at approximately $424,736.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in shares of Forrester Research by 120.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the technology company’s stock valued at $25,000 after acquiring an additional 377 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Forrester Research by 109.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 760 shares of the technology company’s stock valued at $25,000 after buying an additional 397 shares during the period. Captrust Financial Advisors grew its holdings in shares of Forrester Research by 250.0% in the 1st quarter. Captrust Financial Advisors now owns 469 shares of the technology company’s stock valued at $26,000 after buying an additional 335 shares during the period. FMR LLC grew its holdings in shares of Forrester Research by 104.7% in the 1st quarter. FMR LLC now owns 790 shares of the technology company’s stock valued at $26,000 after buying an additional 404 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Forrester Research in the 4th quarter valued at $28,000. Institutional investors own 55.20% of the company’s stock.

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.