Forrester Research (NASDAQ:FORR) Downgraded by StockNews.com

Forrester Research (NASDAQ:FORR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Forrester Research Stock Performance

Shares of FORR stock opened at $18.19 on Wednesday. The firm has a market capitalization of $352.70 million, a price-to-earnings ratio of 107.00, a PEG ratio of 1.34 and a beta of 0.91. 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 business’s 50-day moving average price is $19.95 and its 200-day moving average price is $23.29. Forrester Research has a 12 month low of $18.10 and a 12 month high of $32.79.

Forrester Research (NASDAQ:FORR) last posted its earnings results on Thursday, February 8th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Forrester Research had a return on equity of 10.77% and a net margin of 0.63%. The business had revenue of $118.09 million for the quarter, compared to analyst estimates of $116.43 million. Equities research analysts forecast that Forrester Research will post 1.04 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Forrester Research

Several hedge funds and other institutional investors have recently bought and sold shares of FORR. Wellington Management Group LLP acquired a new stake in Forrester Research during the fourth quarter worth approximately $2,327,000. Cambiar Investors LLC increased its stake in shares of Forrester Research by 32.6% in the 3rd quarter. Cambiar Investors LLC now owns 75,949 shares of the technology company’s stock valued at $2,195,000 after acquiring an additional 18,679 shares in the last quarter. L2 Asset Management LLC acquired a new position in shares of Forrester Research during the 3rd quarter valued at $516,000. Watchman Group Inc. acquired a new stake in Forrester Research in the third quarter worth $420,000. Finally, M&T Bank Corp grew its holdings in Forrester Research by 18.9% in the fourth quarter. M&T Bank Corp now owns 68,482 shares of the technology company’s stock worth $1,836,000 after purchasing an additional 10,909 shares during the period. Institutional investors and hedge funds own 55.20% of the company’s stock.

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.