Forrester Research, Inc. (NASDAQ:FORR) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Separately, Zacks Investment Research downgraded shares of Forrester Research from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.

Shares of Forrester Research (NASDAQ:FORR) traded down 1.11% during midday trading on Friday, reaching $39.95. The company’s stock had a trading volume of 78,261 shares. The company has a 50 day moving average price of $39.97 and a 200-day moving average price of $39.37. The stock has a market capitalization of $708.63 million, a PE ratio of 40.77 and a beta of 0.42. Forrester Research has a 52 week low of $34.95 and a 52 week high of $44.40.

Forrester Research (NASDAQ:FORR) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.34 EPS for the quarter, beating the Zacks’ 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 net margin of 5.49% and a return on equity of 12.67%. Forrester Research’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, equities research analysts expect that Forrester Research will post $1.18 EPS for the current year.

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In other news, insider Steven P. Peltzman sold 18,595 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $40.02, for a total transaction of $744,171.90. Following the completion of the sale, the insider now owns 12,418 shares in the company, valued at approximately $496,968.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Hornig sold 11,288 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $39.68, for a total transaction of $447,907.84. Following the sale, the director now owns 14,765 shares of the company’s stock, valued at approximately $585,875.20. The disclosure for this sale can be found here. Insiders have sold a total of 58,487 shares of company stock valued at $2,332,704 in the last 90 days. Insiders own 46.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Forrester Research by 51.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,082 shares of the technology company’s stock worth $121,000 after buying an additional 1,051 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Forrester Research by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the technology company’s stock worth $177,000 after buying an additional 80 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Forrester Research by 1.9% in the first quarter. Arizona State Retirement System now owns 5,230 shares of the technology company’s stock worth $208,000 after buying an additional 100 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in shares of Forrester Research during the first quarter worth about $220,000. Finally, First Trust Advisors LP increased its stake in shares of Forrester Research by 19.2% in the first quarter. First Trust Advisors LP now owns 5,810 shares of the technology company’s stock worth $231,000 after buying an additional 937 shares in the last quarter. Institutional investors and hedge funds own 53.36% of the company’s stock.

Forrester Research Company Profile

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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