Principal Financial Group Inc. raised its stake in shares of Forrester Research, Inc. (NASDAQ:FORR) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,177 shares of the technology company’s stock after buying an additional 2,678 shares during the period. Principal Financial Group Inc. owned about 0.44% of Forrester Research worth $3,147,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in FORR. Municipal Employees Retirement System of Michigan raised its position 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 valued at $177,000 after buying an additional 80 shares in the last quarter. Arizona State Retirement System raised its position 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 valued at $208,000 after buying an additional 100 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in shares of Forrester Research during the first quarter valued at $220,000. AQR Capital Management LLC raised its position in shares of Forrester Research by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 5,593 shares of the technology company’s stock valued at $240,000 after buying an additional 188 shares in the last quarter. Finally, First Trust Advisors LP raised its position 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 valued at $231,000 after buying an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.
Shares of Forrester Research, Inc. (NASDAQ:FORR) opened at 40.95 on Friday. Forrester Research, Inc. has a 1-year low of $34.95 and a 1-year high of $44.40. The stock has a market capitalization of $726.37 million, a price-to-earnings ratio of 38.82 and a beta of 0.41. The firm’s 50-day moving average price is $39.49 and its 200 day moving average price is $39.48.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Wednesday, April 26th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $77.20 million during the quarter, compared to the consensus estimate of $76.38 million. Forrester Research had a net margin of 5.95% and a return on equity of 13.85%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. Equities research analysts expect that Forrester Research, Inc. will post $1.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.76 dividend on an annualized basis and a yield of 1.86%. Forrester Research’s payout ratio is currently 72.38%.
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Separately, Zacks Investment Research upgraded Forrester Research from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th.
In other Forrester Research news, Director Michael Welles sold 12,388 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $40.53, for a total value of $502,085.64. Following the completion of the transaction, the director now directly owns 17,824 shares of the company’s stock, valued at $722,406.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George Hornig sold 2,583 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $37.36, for a total transaction of $96,500.88. Following the completion of the transaction, the director now directly owns 4,425 shares of the company’s stock, valued at $165,318. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,487 shares of company stock valued at $2,291,454. 46.60% of the stock is currently owned by corporate insiders.
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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