Forrester Research (NASDAQ:FORR) Sees Unusually-High Trading Volume

Shares of Forrester Research, Inc. (NASDAQ:FORR) saw unusually-strong trading volume on Friday . Approximately 6,716 shares changed hands during trading, a decline of 85% from the previous session’s volume of 43,428 shares.The stock last traded at $49.91 and had previously closed at $49.71.

A number of research analysts have recently commented on FORR shares. Barrington Research reaffirmed a “buy” rating and set a $54.00 target price on shares of Forrester Research in a research note on Thursday, July 29th. Zacks Investment Research raised Forrester Research from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, August 3rd.

The company has a market cap of $963.58 million, a P/E ratio of 88.19, a PEG ratio of 2.32 and a beta of 1.06. The firm has a 50 day moving average of $46.85 and a 200-day moving average of $44.72. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Wednesday, July 28th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.33. Forrester Research had a return on equity of 5.82% and a net margin of 2.33%. The company had revenue of $128.67 million for the quarter, compared to analysts’ expectations of $122.11 million. On average, research analysts predict that Forrester Research, Inc. will post 1.46 EPS for the current fiscal year.

In other Forrester Research news, CAO Scott Chouinard sold 1,000 shares of the company’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $45.27, for a total transaction of $45,270.00. Following the completion of the sale, the chief accounting officer now owns 2,392 shares in the company, valued at $108,285.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Galford sold 3,000 shares of the company’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $45.81, for a total value of $137,430.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,814 shares of company stock worth $602,225. 41.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in shares of Forrester Research by 3.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,678 shares of the technology company’s stock valued at $351,000 after purchasing an additional 230 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Forrester Research by 6.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,152 shares of the technology company’s stock valued at $328,000 after purchasing an additional 416 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Forrester Research by 1.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 29,416 shares of the technology company’s stock valued at $1,347,000 after purchasing an additional 462 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Forrester Research by 2.0% during the 1st quarter. Swiss National Bank now owns 26,050 shares of the technology company’s stock valued at $1,107,000 after purchasing an additional 500 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Forrester Research by 5.5% during the 1st quarter. Prudential Financial Inc. now owns 13,146 shares of the technology company’s stock valued at $558,000 after purchasing an additional 680 shares during the last quarter. Hedge funds and other institutional investors own 56.66% of the company’s stock.

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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