Forrester Research (NASDAQ:FORR) Stock Passes Above 200 Day Moving Average of $51.54

Forrester Research, Inc. (NASDAQ:FORR) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $51.54 and traded as high as $56.69. Forrester Research shares last traded at $56.43, with a volume of 40,624 shares changing hands.

FORR has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Forrester Research from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 5th. Barrington Research lifted their price target on shares of Forrester Research from $54.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, November 4th.

The stock has a market cap of $1.08 billion, a P/E ratio of 57.08, a price-to-earnings-growth ratio of 1.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day moving average price of $58.15 and a 200-day moving average price of $51.58.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Wednesday, November 3rd. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.17 by $0.24. The business had revenue of $118.14 million during the quarter, compared to analyst estimates of $116.42 million. Forrester Research had a return on equity of 10.60% and a net margin of 4.00%. During the same quarter last year, the firm posted ($0.20) earnings per share. On average, research analysts predict that Forrester Research, Inc. will post 1.72 earnings per share for the current year.

In other Forrester Research news, CAO Scott Chouinard sold 8,375 shares of Forrester Research stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $58.64, for a total value of $491,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carrie Johnson sold 1,531 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $58.11, for a total transaction of $88,966.41. The disclosure for this sale can be found here. Insiders have sold 12,906 shares of company stock valued at $757,266 in the last ninety days. Insiders own 41.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Forrester Research by 267.2% in the 2nd quarter. Royal Bank of Canada now owns 973 shares of the technology company’s stock worth $44,000 after buying an additional 708 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Forrester Research by 1,372.6% in the second quarter. Advisor Group Holdings Inc. now owns 1,561 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,455 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Forrester Research by 70.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,700 shares of the technology company’s stock worth $78,000 after purchasing an additional 700 shares during the period. Metropolitan Life Insurance Co NY raised its stake in Forrester Research by 115,200.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 3,459 shares of the technology company’s stock valued at $158,000 after buying an additional 3,456 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Forrester Research by 77.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,918 shares of the technology company’s stock worth $179,000 after buying an additional 1,712 shares during the last quarter. 52.96% of the stock is currently owned by institutional investors.

About Forrester Research (NASDAQ:FORR)

Forrester Research, Inc engages in the provision of advisory services. It operates through the following segments: Research, Consulting, and Events. The Research segment includes the revenues of the research, connect, and analytics products. The Consulting segment consists of project consulting organization.

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