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

Forrester Research (NASDAQ:FORR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Forrester Research Trading Up 1.8 %

Shares of NASDAQ:FORR traded up $0.33 on Thursday, hitting $19.18. The company had a trading volume of 70,343 shares, compared to its average volume of 143,954. The firm’s 50-day simple moving average is $19.73 and its two-hundred day simple moving average is $22.89. Forrester Research has a 1 year low of $17.26 and a 1 year high of $32.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $366.47 million, a price-to-earnings ratio of 639.33, a P/E/G ratio of 1.28 and a beta of 0.94.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $118.09 million during the quarter, compared to the consensus estimate of $116.43 million. Forrester Research had a return on equity of 9.26% and a net margin of 0.10%. Equities analysts anticipate that Forrester Research will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Forrester Research news, Director Robert Galford sold 13,000 shares of the firm’s stock in a transaction dated 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 directly owns 20,489 shares in the company, valued at approximately $424,736.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 39.20% of the stock is owned by company insiders.

Institutional Trading of Forrester Research

A number of institutional investors and hedge funds have recently bought and sold shares of FORR. Wellington Management Group LLP bought a new stake in Forrester Research during the 4th quarter valued at about $2,327,000. Advisors Preferred LLC bought a new stake in shares of Forrester Research in the first quarter worth approximately $1,428,000. Cambiar Investors LLC grew its stake in shares of Forrester Research by 32.6% in the third quarter. Cambiar Investors LLC now owns 75,949 shares of the technology company’s stock worth $2,195,000 after acquiring an additional 18,679 shares during the period. L2 Asset Management LLC bought a new stake in shares of Forrester Research in the third quarter worth approximately $516,000. Finally, GSA Capital Partners LLP grew its stake in shares of Forrester Research by 44.4% in the first quarter. GSA Capital Partners LLP now owns 58,098 shares of the technology company’s stock worth $1,253,000 after acquiring an additional 17,864 shares during the period. 55.20% of the stock is currently owned by 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.