Bank of America Corp DE Lowers Stock Holdings in Forrester Research, Inc. (NASDAQ:FORR)

Bank of America Corp DE decreased its position in shares of Forrester Research, Inc. (NASDAQ:FORR) by 3.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,986 shares of the technology company’s stock after selling 1,454 shares during the period. Bank of America Corp DE owned approximately 0.20% of Forrester Research worth $1,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Forrester Research by 2.7% during the second quarter. BlackRock Inc. now owns 1,638,798 shares of the technology company’s stock valued at $77,072,000 after purchasing an additional 42,795 shares in the last quarter. Vanguard Group Inc. raised its position in Forrester Research by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,117,085 shares of the technology company’s stock valued at $52,536,000 after purchasing an additional 11,979 shares in the last quarter. Renaissance Technologies LLC raised its position in Forrester Research by 5.3% during the second quarter. Renaissance Technologies LLC now owns 839,018 shares of the technology company’s stock valued at $39,459,000 after purchasing an additional 42,418 shares in the last quarter. Northern Trust Corp raised its position in Forrester Research by 0.9% during the second quarter. Northern Trust Corp now owns 159,413 shares of the technology company’s stock valued at $7,497,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Roubaix Capital LLC raised its position in Forrester Research by 5.1% during the second quarter. Roubaix Capital LLC now owns 107,419 shares of the technology company’s stock valued at $5,052,000 after purchasing an additional 5,223 shares in the last quarter. Institutional investors and hedge funds own 55.49% of the company’s stock.

A number of equities research analysts have weighed in on the company. Maxim Group restated a “buy” rating and set a $59.00 price target (down previously from $62.00) on shares of Forrester Research in a research report on Thursday, August 1st. Barrington Research restated a “hold” rating on shares of Forrester Research in a research report on Thursday, August 8th. BidaskClub upgraded Forrester Research from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 16th. ValuEngine upgraded Forrester Research from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Zacks Investment Research upgraded Forrester Research from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.67.

FORR opened at $34.28 on Wednesday. The company has a market cap of $644.68 million, a P/E ratio of 40.81 and a beta of 0.73. The business’s 50-day moving average price is $33.91 and its 200-day moving average price is $42.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Forrester Research, Inc. has a 12 month low of $30.76 and a 12 month high of $51.75.

Forrester Research (NASDAQ:FORR) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The firm had revenue of $128.18 million for the quarter, compared to the consensus estimate of $126.76 million. Forrester Research had a negative return on equity of 1.65% and a negative net margin of 0.59%. Equities research analysts forecast that Forrester Research, Inc. will post -0.57 earnings per share for the current fiscal year.

In related news, Director Neil Bradford acquired 3,040 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the completion of the acquisition, the director now owns 8,809 shares in the company, valued at $287,437.67. The purchase was disclosed in a filing with the SEC, which is available at this link. 43.40% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Forrester Research (NASDAQ:FORR)

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