Citigroup Inc. boosted its holdings in Forrester Research, Inc. (NASDAQ:FORR) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,506 shares of the technology company’s stock after buying an additional 1,188 shares during the period. Citigroup Inc. owned approximately 0.09% of Forrester Research worth $647,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in FORR. BNP Paribas Arbitrage SA increased its stake in Forrester Research by 51.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,082 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,051 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Forrester Research by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the technology company’s stock valued at $177,000 after purchasing an additional 80 shares in the last quarter. Arizona State Retirement System increased its stake in Forrester Research by 1.9% in the first quarter. Arizona State Retirement System now owns 5,230 shares of the technology company’s stock valued at $208,000 after purchasing an additional 100 shares in the last quarter. First Trust Advisors LP increased its stake in Forrester Research by 19.2% in the first quarter. First Trust Advisors LP now owns 5,810 shares of the technology company’s stock valued at $231,000 after purchasing an additional 937 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in Forrester Research in the first quarter valued at approximately $231,000. Institutional investors and hedge funds own 52.08% of the company’s stock.
In other news, Director Gretchen Teichgraeber sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.25, for a total value of $41,250.00. Following the transaction, the director now owns 10,270 shares in the company, valued at approximately $423,637.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henk Broeders sold 17,632 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $41.00, for a total transaction of $722,912.00. Following the completion of the transaction, the director now owns 18,662 shares in the company, valued at approximately $765,142. The disclosure for this sale can be found here. Insiders sold a total of 54,196 shares of company stock worth $2,222,057 in the last 90 days. Corporate insiders own 44.30% of the company’s stock.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Forrester Research from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of Forrester Research from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th.
Shares of Forrester Research, Inc. (NASDAQ:FORR) opened at 43.95 on Thursday. The company has a market cap of $779.37 million, a P/E ratio of 44.85 and a beta of 0.44. Forrester Research, Inc. has a 52 week low of $34.95 and a 52 week high of $44.40. The firm has a 50-day moving average of $41.21 and a 200 day moving average of $40.09.
Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $89.70 million for the quarter, compared to the consensus estimate of $87.51 million. Forrester Research had a net margin of 5.49% and a return on equity of 13.00%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS. Equities analysts anticipate that Forrester Research, Inc. will post $1.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were given a $0.19 dividend. The ex-dividend date was Tuesday, September 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.73%. Forrester Research’s dividend payout ratio (DPR) is currently 77.55%.
Forrester Research Company Profile
Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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