Forrester Research (FORR) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Forrester Research (NASDAQ:FORR) from a hold rating to a buy rating in a report issued on Saturday morning.

Separately, Zacks Investment Research lowered shares of Forrester Research from a strong-buy rating to a hold rating in a research note on Tuesday, December 26th.

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Shares of FORR stock opened at $41.55 on Friday. The firm has a market cap of $749.56, a P/E ratio of 50.06, a PEG ratio of 3.27 and a beta of 0.46. Forrester Research has a one year low of $36.95 and a one year high of $47.75.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $90.38 million during the quarter, compared to analyst estimates of $84.85 million. Forrester Research had a return on equity of 11.28% and a net margin of 4.48%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. research analysts predict that Forrester Research will post 1.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were paid a $0.20 dividend. This is a positive change from Forrester Research’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Tuesday, March 6th. Forrester Research’s dividend payout ratio is currently 96.39%.

In other news, Director Robert Galford sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $42.53, for a total value of $510,360.00. Following the completion of the sale, the director now directly owns 32,609 shares of the company’s stock, valued at approximately $1,386,860.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George Hornig sold 646 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $40.70, for a total transaction of $26,292.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,021 shares of company stock valued at $928,026. Company insiders own 44.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Forrester Research by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,211 shares of the technology company’s stock valued at $322,000 after purchasing an additional 277 shares during the last quarter. Geode Capital Management LLC lifted its stake in Forrester Research by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 99,906 shares of the technology company’s stock valued at $4,415,000 after purchasing an additional 1,349 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Forrester Research by 59.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,370 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Forrester Research by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,351 shares of the technology company’s stock valued at $644,000 after purchasing an additional 1,426 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Forrester Research by 65.6% during the third quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the technology company’s stock valued at $214,000 after purchasing an additional 2,023 shares during the last quarter. 59.88% of the stock is owned by institutional investors and hedge funds.

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Forrester Research Company Profile

Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.

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