Forrester Research, Inc. (NASDAQ:FORR) Short Interest Update

Forrester Research, Inc. (NASDAQ:FORR) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 438,900 shares, a decline of 5.2% from the February 29th total of 463,200 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 150,300 shares, the short-interest ratio is presently 2.9 days.

Forrester Research Trading Down 3.4 %

Shares of NASDAQ:FORR opened at $20.83 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The firm has a market cap of $403.89 million, a price-to-earnings ratio of 122.53, a PEG ratio of 1.54 and a beta of 0.91. Forrester Research has a 12 month low of $18.64 and a 12 month high of $34.00. The company’s fifty day simple moving average is $21.79 and its 200 day simple moving average is $24.81.

Forrester Research (NASDAQ:FORR) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $118.09 million for the quarter, compared to analyst estimates of $116.43 million. Forrester Research had a return on equity of 10.77% and a net margin of 0.63%. As a group, research analysts forecast that Forrester Research will post 1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Forrester Research from a “buy” rating to a “hold” rating in a research note on Monday, March 18th.

Insider Activity

In related news, Director Robert Galford sold 13,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $20.73, for a total transaction of $269,490.00. Following the completion of the sale, the director now owns 20,489 shares in the company, valued at approximately $424,736.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 39.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forrester Research

A number of large investors have recently made changes to their positions in FORR. Bank of Montreal Can bought a new stake in shares of Forrester Research in the first quarter valued at approximately $200,000. MetLife Investment Management LLC lifted its holdings in shares of Forrester Research by 13.2% in the first quarter. MetLife Investment Management LLC now owns 5,365 shares of the technology company’s stock worth $303,000 after acquiring an additional 627 shares during the last quarter. Rhumbline Advisers lifted its stake in Forrester Research by 4.8% in the 1st quarter. Rhumbline Advisers now owns 26,868 shares of the technology company’s stock valued at $1,516,000 after purchasing an additional 1,227 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Forrester Research by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,586 shares of the technology company’s stock worth $541,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Forrester Research by 224.5% during the first quarter. Sei Investments Co. now owns 16,929 shares of the technology company’s stock worth $950,000 after purchasing an additional 11,712 shares during the period. Institutional investors own 55.20% of the company’s stock.

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.