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 report issued on Tuesday.

Forrester Research Stock Performance

NASDAQ:FORR traded down $1.08 during midday trading on Tuesday, hitting $16.93. The company’s stock had a trading volume of 69,273 shares, compared to its average volume of 123,805. The firm has a market cap of $323.48 million, a P/E ratio of 564.33, a P/E/G ratio of 1.39 and a beta of 0.87. Forrester Research has a fifty-two week low of $16.14 and a fifty-two week high of $29.93. The firm’s 50 day moving average is $18.46 and its 200-day moving average is $18.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). Forrester Research had a net margin of 0.32% and a return on equity of 6.52%. The company had revenue of $121.83 million during the quarter, compared to analyst estimates of $121.21 million. Equities analysts anticipate that Forrester Research will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Forrester Research

In other Forrester Research news, insider Ryan Darrah sold 3,895 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $18.26, for a total value of $71,122.70. Following the transaction, the insider now owns 19,640 shares in the company, valued at approximately $358,626.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Forrester Research in the fourth quarter valued at approximately $2,327,000. PNC Financial Services Group Inc. increased its holdings in Forrester Research by 52.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after acquiring an additional 533 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Forrester Research by 63.2% during the 1st quarter. BNP Paribas Financial Markets now owns 24,023 shares of the technology company’s stock worth $518,000 after purchasing an additional 9,299 shares during the last quarter. GSA Capital Partners LLP increased its position in Forrester Research by 44.4% during the first quarter. GSA Capital Partners LLP now owns 58,098 shares of the technology company’s stock worth $1,253,000 after buying an additional 17,864 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Forrester Research in the 1st quarter valued at about $223,000. 55.20% of the stock is owned by hedge funds and other 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.