Hsbc Holdings PLC lowered its stake in Forrester Research, Inc. (NASDAQ:FORR) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,527 shares of the technology company’s stock after selling 1,244 shares during the quarter. Hsbc Holdings PLC’s holdings in Forrester Research were worth $351,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in FORR. Charles Schwab Investment Management Inc. lifted its position in shares of Forrester Research by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,888 shares of the technology company’s stock worth $3,013,000 after purchasing an additional 538 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Forrester Research by 2.4% in the fourth quarter. Public Sector Pension Investment Board now owns 24,333 shares of the technology company’s stock worth $1,020,000 after purchasing an additional 570 shares in the last quarter. Citigroup Inc. lifted its position in shares of Forrester Research by 29.8% in the fourth quarter. Citigroup Inc. now owns 4,451 shares of the technology company’s stock worth $186,000 after purchasing an additional 1,023 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Forrester Research by 3.8% in the fourth quarter. Rhumbline Advisers now owns 30,612 shares of the technology company’s stock worth $1,283,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of Forrester Research in the fourth quarter worth $53,000. 56.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Forrester Research news, Director Gretchen Teichgraeber sold 1,000 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $46.02, for a total value of $46,020.00. Following the transaction, the director now directly owns 15,103 shares in the company, valued at $695,040.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 3,658 shares of company stock worth $164,712. Corporate insiders own 42.40% of the company’s stock.
A number of analysts have recently commented on the stock. Barrington Research boosted their price objective on shares of Forrester Research from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Zacks Investment Research downgraded shares of Forrester Research from a “hold” rating to a “sell” rating in a report on Wednesday, February 17th.
Shares of FORR opened at $41.17 on Wednesday. The company has a market cap of $787.34 million, a price-to-earnings ratio of 62.38, a PEG ratio of 5.71 and a beta of 0.99. Forrester Research, Inc. has a 1-year low of $27.14 and a 1-year high of $47.44. The company’s fifty day simple moving average is $43.95 and its 200 day simple moving average is $41.51. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56.
Forrester Research (NASDAQ:FORR) last issued its earnings results on Thursday, February 11th. The technology company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.19. Forrester Research had a net margin of 2.75% and a return on equity of 7.50%. The business had revenue of $120.52 million for the quarter, compared to the consensus estimate of $112.78 million. As a group, research analysts forecast that Forrester Research, Inc. will post 0.56 earnings per share for the current year.
Forrester Research Profile
Forrester Research, Inc operates as an independent research and advisory services company in the United States and internationally. The company operates through Research, Consulting, and Events segments. Its primary subscription research product is Research, which offers clients with access to its research designed to inform their strategic decision-making.
Featured Article: How to use beta for portfolio diversification
Want to see what other hedge funds are holding FORR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forrester Research, Inc. (NASDAQ:FORR).
Receive News & Ratings for Forrester Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forrester Research and related companies with MarketBeat.com's FREE daily email newsletter.