New York State Teachers Retirement System Holds Position in Forrester Research, Inc. (FORR)
New York State Teachers Retirement System maintained its stake in shares of Forrester Research, Inc. (NASDAQ:FORR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,277 shares of the technology company’s stock at the end of the first quarter. New York State Teachers Retirement System’s holdings in Forrester Research were worth $250,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in Forrester Research during the fourth quarter valued at $442,000. Comerica Bank increased its position in Forrester Research by 5.6% in the fourth quarter. Comerica Bank now owns 10,576 shares of the technology company’s stock valued at $445,000 after buying an additional 560 shares during the period. State Street Corp increased its position in shares of Forrester Research by 8.0% in the fourth quarter. State Street Corp now owns 236,133 shares of the technology company’s stock worth $10,142,000 after buying an additional 17,441 shares during the last quarter. FMR LLC increased its position in shares of Forrester Research by 17.9% in the fourth quarter. FMR LLC now owns 150,300 shares of the technology company’s stock worth $6,455,000 after buying an additional 22,845 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in shares of Forrester Research during the fourth quarter worth approximately $1,007,000. 53.36% of the stock is currently owned by institutional investors.
Shares of Forrester Research, Inc. (NASDAQ FORR) opened at 38.55 on Thursday. Forrester Research, Inc. has a 52-week low of $34.95 and a 52-week high of $44.40. The stock has a market cap of $683.80 million, a P/E ratio of 39.34 and a beta of 0.42. The firm has a 50-day moving average price of $40.10 and a 200-day moving average price of $39.35.
Forrester Research (NASDAQ:FORR) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.07. The company had revenue of $89.70 million during the quarter, compared to the consensus estimate of $87.51 million. Forrester Research had a return on equity of 12.67% and a net margin of 5.49%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. On average, analysts anticipate that Forrester Research, Inc. will post $1.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, September 5th. This represents a $0.76 dividend on an annualized basis and a yield of 1.97%. Forrester Research’s dividend payout ratio (DPR) is 77.55%.
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A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Forrester Research from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Forrester Research from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th.
In related news, Director Henk Broeders sold 11,300 shares of Forrester Research stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $41.00, for a total value of $463,300.00. Following the completion of the transaction, the director now directly owns 28,762 shares in the company, valued at $1,179,242. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gretchen Teichgraeber sold 1,000 shares of Forrester Research stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $41.25, for a total value of $41,250.00. Following the completion of the transaction, the director now owns 10,270 shares of the company’s stock, valued at $423,637.50. The disclosure for this sale can be found here. Insiders sold 57,358 shares of company stock valued at $2,302,684 over the last quarter. Insiders own 46.60% of the company’s stock.
About Forrester Research
Forrester Research, Inc (Forrester) is an 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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