Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 6.5% in September

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 241,100 shares, a drop of 6.5% from the August 31st total of 257,900 shares. Based on an average daily volume of 99,300 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.1% of the shares of the company are short sold.

Insiders Place Their Bets

In other Forrester Research news, insider Ryan Darrah sold 3,895 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.26, for a total transaction of $71,122.70. Following the completion of the transaction, the insider now owns 19,640 shares in the company, valued at $358,626.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in Forrester Research by 52.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after purchasing an additional 533 shares in the last quarter. Point72 DIFC Ltd raised its stake in Forrester Research by 62.4% in the second quarter. Point72 DIFC Ltd now owns 1,713 shares of the technology company’s stock valued at $29,000 after purchasing an additional 658 shares in the last quarter. Rhumbline Advisers raised its stake in Forrester Research by 17.4% in the second quarter. Rhumbline Advisers now owns 17,951 shares of the technology company’s stock valued at $307,000 after purchasing an additional 2,661 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Forrester Research by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 59,248 shares of the technology company’s stock valued at $1,012,000 after purchasing an additional 3,306 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Forrester Research by 17.9% during the second quarter. Marshall Wace LLP now owns 23,445 shares of the technology company’s stock worth $400,000 after acquiring an additional 3,552 shares in the last quarter. 55.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Forrester Research from a “hold” rating to a “buy” rating in a report on Thursday, September 12th.

Forrester Research Trading Up 1.3 %

Shares of Forrester Research stock opened at $17.17 on Monday. Forrester Research has a 12-month low of $16.14 and a 12-month high of $31.28. The company has a market cap of $328.07 million, a price-to-earnings ratio of 572.33, a PEG ratio of 1.39 and a beta of 0.87. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $18.47 and its 200-day moving average price is $18.52.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). Forrester Research had a return on equity of 6.52% and a net margin of 0.32%. The firm had revenue of $121.83 million during the quarter, compared to analysts’ expectations of $121.21 million. On average, equities analysts expect that Forrester Research will post 0.95 earnings per share for the current fiscal year.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.