State of Tennessee Treasury Department lifted its stake in shares of Forrester Research, Inc. (NASDAQ:FORR) by 66.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,925 shares of the technology company’s stock after purchasing an additional 7,535 shares during the quarter. State of Tennessee Treasury Department’s holdings in Forrester Research were worth $609,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of Forrester Research by 8.1% during the 2nd quarter. Wells Fargo & Company MN now owns 36,027 shares of the technology company’s stock worth $1,694,000 after purchasing an additional 2,693 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Forrester Research by 35.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,464 shares of the technology company’s stock valued at $1,723,000 after acquiring an additional 9,630 shares in the last quarter. Swiss National Bank lifted its position in Forrester Research by 11.5% in the 2nd quarter. Swiss National Bank now owns 20,350 shares of the technology company’s stock valued at $957,000 after acquiring an additional 2,100 shares in the last quarter. Menta Capital LLC lifted its position in Forrester Research by 53.1% in the 2nd quarter. Menta Capital LLC now owns 10,095 shares of the technology company’s stock valued at $475,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its position in Forrester Research by 369.9% in the 3rd quarter. Dupont Capital Management Corp now owns 40,971 shares of the technology company’s stock valued at $1,317,000 after acquiring an additional 32,251 shares in the last quarter. 53.86% of the stock is currently owned by institutional investors.
Shares of NASDAQ FORR opened at $36.73 on Friday. Forrester Research, Inc. has a fifty-two week low of $30.76 and a fifty-two week high of $51.75. The company has a quick ratio of 0.64, a current ratio of 0.61 and a debt-to-equity ratio of 1.27. The firm’s 50-day simple moving average is $34.11 and its 200 day simple moving average is $41.05.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The business 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 forecast that Forrester Research, Inc. will post -0.7 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on FORR shares. Maxim Group reaffirmed a “buy” rating and issued a $59.00 price target (down previously from $62.00) on shares of Forrester Research in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Forrester Research from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. ValuEngine raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barrington Research reaffirmed a “hold” rating on shares of Forrester Research in a research report on Monday, October 21st. Finally, Sidoti started coverage on shares of Forrester Research in a research report on Wednesday, August 28th. They issued a “buy” rating and a $55.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Forrester Research presently has an average rating of “Buy” and a consensus price target of $51.00.
In other news, Director Neil Bradford acquired 3,040 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the purchase, the director now owns 8,809 shares in the company, valued at approximately $287,437.67. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 43.40% of the company’s stock.
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.
See Also: Yield Curve
Want to see what other hedge funds are holding FORR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forrester Research, Inc. (NASDAQ:FORR).