State of Alaska Department of Revenue raised its position in Forrester Research, Inc. (NASDAQ:FORR) by 127.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,991 shares of the technology company’s stock after purchasing an additional 4,478 shares during the quarter. State of Alaska Department of Revenue’s holdings in Forrester Research were worth $256,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of FORR. Wells Fargo & Company MN raised its holdings in shares of Forrester Research by 8.1% in the second quarter. Wells Fargo & Company MN now owns 36,027 shares of the technology company’s stock worth $1,694,000 after buying an additional 2,693 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Forrester Research by 35.9% during the second quarter. JPMorgan Chase & Co. now owns 36,464 shares of the technology company’s stock worth $1,723,000 after purchasing an additional 9,630 shares during the last quarter. Menta Capital LLC raised its holdings in shares of Forrester Research by 53.1% during the second quarter. Menta Capital LLC now owns 10,095 shares of the technology company’s stock worth $475,000 after purchasing an additional 3,500 shares during the last quarter. Swiss National Bank raised its holdings in shares of Forrester Research by 11.5% during the second quarter. Swiss National Bank now owns 20,350 shares of the technology company’s stock worth $957,000 after purchasing an additional 2,100 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in shares of Forrester Research by 27.8% during the first quarter. MetLife Investment Advisors LLC now owns 4,738 shares of the technology company’s stock worth $229,000 after purchasing an additional 1,031 shares during the last quarter. 53.86% of the stock is currently owned by institutional investors.
In other Forrester Research news, Director Neil Bradford bought 3,040 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $32.63 per share, with a total value of $99,195.20. Following the purchase, the director now directly owns 8,809 shares in the company, valued at $287,437.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 43.40% of the stock is owned by corporate insiders.
FORR traded down $0.19 on Wednesday, reaching $36.62. 41,800 shares of the company’s stock were exchanged, compared to its average volume of 55,397. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $671.03 million, a PE ratio of 43.60 and a beta of 0.72. The stock’s fifty day moving average price is $34.07 and its 200-day moving average price is $41.12. Forrester Research, Inc. has a twelve month low of $30.76 and a twelve month high of $51.75.
Forrester Research (NASDAQ:FORR) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $108.60 million for the quarter, compared to the consensus estimate of $107.21 million. Forrester Research had a negative net margin of 2.08% and a negative return on equity of 6.12%. As a group, research analysts predict that Forrester Research, Inc. will post -0.7 earnings per share for the current fiscal year.
Several brokerages recently issued reports on FORR. Sidoti started coverage on shares of Forrester Research in a report on Wednesday, August 28th. They set a “buy” rating and a $55.00 target price for the company. ValuEngine raised shares of Forrester Research from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Maxim Group reaffirmed a “buy” rating and issued a $59.00 price objective (down previously from $62.00) on shares of Forrester Research in a report on Thursday, August 1st. Barrington Research reaffirmed a “hold” rating on shares of Forrester Research in a report on Monday, October 21st. Finally, BidaskClub raised shares of Forrester Research from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.
Forrester Research Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
Further Reading: Price to Earnings Ratio (PE) Basics
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