BlackRock Inc. grew its holdings in shares of Forrester Research, Inc. (NASDAQ:FORR) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,390,788 shares of the technology company’s stock after acquiring an additional 58,153 shares during the quarter. BlackRock Inc. owned about 7.74% of Forrester Research worth $58,345,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Sun Life Financial INC bought a new stake in shares of Forrester Research during the 2nd quarter valued at about $376,000. Martingale Asset Management L P lifted its position in Forrester Research by 3.2% in the 2nd quarter. Martingale Asset Management L P now owns 41,304 shares of the technology company’s stock worth $1,733,000 after buying an additional 1,300 shares during the last quarter. Swiss National Bank lifted its position in Forrester Research by 16.2% in the 2nd quarter. Swiss National Bank now owns 17,250 shares of the technology company’s stock worth $724,000 after buying an additional 2,400 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Forrester Research by 3.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 51,092 shares of the technology company’s stock worth $2,144,000 after buying an additional 1,548 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Forrester Research in the 2nd quarter worth approximately $142,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.
NASDAQ:FORR opened at $40.87 on Friday. The company has a market capitalization of $829.60 million, a P/E ratio of 49.41, a PEG ratio of 4.07 and a beta of 0.42. Forrester Research, Inc. has a 1-year low of $36.95 and a 1-year high of $50.00.
Forrester Research (NASDAQ:FORR) last released its earnings results on Friday, July 27th. The technology company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.15. The company had revenue of $96.35 million during the quarter, compared to the consensus estimate of $93.48 million. Forrester Research had a return on equity of 8.68% and a net margin of 3.51%. On average, analysts expect that Forrester Research, Inc. will post 0.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, September 11th. This represents a $0.80 dividend on an annualized basis and a yield of 1.96%. Forrester Research’s payout ratio is 96.39%.
FORR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Forrester Research from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. ValuEngine upgraded Forrester Research from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. BidaskClub downgraded Forrester Research from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Finally, Barrington Research restated a “hold” rating on shares of Forrester Research in a research report on Tuesday, July 24th.
In other Forrester Research news, insider Cliff Condon sold 2,289 shares of Forrester Research stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $45.00, for a total value of $103,005.00. Following the transaction, the insider now directly owns 25,606 shares of the company’s stock, valued at approximately $1,152,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gretchen Teichgraeber sold 9,375 shares of Forrester Research stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $45.56, for a total value of $427,125.00. Following the completion of the transaction, the director now directly owns 23,629 shares in the company, valued at $1,076,537.24. The disclosure for this sale can be found here. Insiders sold a total of 17,267 shares of company stock valued at $783,263 in the last 90 days. 43.50% of the stock is currently owned by corporate insiders.
About Forrester Research
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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