Michael A. Doyle Sells 10,000 Shares of Forrester Research Inc. (FORR) Stock
Forrester Research Inc. (NASDAQ:FORR) CFO Michael A. Doyle sold 10,000 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $37.05, for a total value of $370,500.00. Following the completion of the sale, the chief financial officer now owns 24,461 shares of the company’s stock, valued at approximately $906,280.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Forrester Research Inc. (NASDAQ:FORR) opened at 38.50 on Friday. Forrester Research Inc. has a 52 week low of $27.05 and a 52 week high of $42.01. The firm has a market cap of $695.27 million, a price-to-earnings ratio of 50.66 and a beta of 0.50. The firm’s 50-day moving average price is $38.03 and its 200-day moving average price is $38.06.
Forrester Research (NASDAQ:FORR) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm earned $77.40 million during the quarter, compared to analysts’ expectations of $79.99 million. Forrester Research had a return on equity of 11.35% and a net margin of 4.20%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. Equities research analysts expect that Forrester Research Inc. will post $1.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.87%. Forrester Research’s payout ratio is 96.00%.
FORR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Forrester Research from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Sidoti upgraded Forrester Research from a “neutral” rating to a “buy” rating in a research note on Monday, October 31st.
A number of hedge funds have recently added to or reduced their stakes in FORR. KCG Holdings Inc. purchased a new stake in Forrester Research during the third quarter worth about $383,000. Citadel Advisors LLC boosted its stake in Forrester Research by 96.0% in the third quarter. Citadel Advisors LLC now owns 29,336 shares of the company’s stock worth $1,141,000 after buying an additional 14,372 shares during the last quarter. Morgan Stanley boosted its stake in Forrester Research by 39.0% in the third quarter. Morgan Stanley now owns 107,585 shares of the company’s stock worth $4,185,000 after buying an additional 30,171 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Forrester Research during the third quarter worth about $619,000. Finally, Principal Financial Group Inc. boosted its stake in Forrester Research by 2.9% in the third quarter. Principal Financial Group Inc. now owns 72,824 shares of the company’s stock worth $2,833,000 after buying an additional 2,063 shares during the last quarter. 53.71% of the stock is owned by hedge funds and other institutional investors.
Forrester Research Company Profile
Forrester Research, Inc (Forrester) is a global 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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