Rhumbline Advisers grew its position in Forrester Research, Inc. (NASDAQ:FORR) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,716 shares of the technology company’s stock after buying an additional 717 shares during the period. Rhumbline Advisers owned approximately 0.17% of Forrester Research worth $1,019,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in shares of Forrester Research by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 16,016 shares of the technology company’s stock valued at $753,000 after buying an additional 238 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Forrester Research by 2.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 16,082 shares of the technology company’s stock worth $756,000 after purchasing an additional 451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Forrester Research by 303.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 848 shares of the technology company’s stock worth $27,000 after purchasing an additional 638 shares during the period. Bank of Montreal Can boosted its stake in Forrester Research by 97.1% in the 2nd quarter. Bank of Montreal Can now owns 1,798 shares of the technology company’s stock worth $86,000 after purchasing an additional 886 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Forrester Research by 4.3% in the 2nd quarter. Bessemer Group Inc. now owns 34,300 shares of the technology company’s stock worth $1,613,000 after purchasing an additional 1,400 shares during the period. 53.74% of the stock is owned by institutional investors.
In other news, Director Neil Bradford bought 3,040 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $32.63 per share, with a total value of $99,195.20. Following the acquisition, the director now owns 8,809 shares in the company, valued at $287,437.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.40% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on the stock. Sidoti assumed coverage on shares of Forrester Research in a research note on Wednesday, August 28th. They issued a “buy” rating and a $55.00 target price for the company. Zacks Investment Research cut shares of Forrester Research from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. BidaskClub raised shares of Forrester Research from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Maxim Group reaffirmed a “buy” rating and issued a $59.00 target price (down from $62.00) on shares of Forrester Research in a report on Thursday, August 1st. Finally, ValuEngine raised shares of Forrester Research from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $51.00.
Shares of FORR stock opened at $36.99 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.64 and a current ratio of 0.61. The firm’s 50-day moving average is $34.16 and its 200-day moving average is $40.98. The stock has a market cap of $683.99 million, a price-to-earnings ratio of 44.04 and a beta of 0.72. Forrester Research, Inc. has a 52-week low of $30.76 and a 52-week high of $51.75.
Forrester Research (NASDAQ:FORR) last issued its earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The company had revenue of $108.60 million for the quarter, compared to analysts’ expectations of $107.21 million. Forrester Research had a negative net margin of 2.08% and a negative return on equity of 6.13%. Sell-side analysts predict that Forrester Research, Inc. will post -0.7 EPS for the current fiscal year.
Forrester Research Company 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.
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