Principal Financial Group Inc. increased its position in shares of Forrester Research, Inc. (NASDAQ:FORR) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,601 shares of the technology company’s stock after acquiring an additional 1,070 shares during the period. Principal Financial Group Inc. owned about 0.47% of Forrester Research worth $3,871,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Texas Permanent School Fund grew its position in shares of Forrester Research by 5.1% in the fourth quarter. Texas Permanent School Fund now owns 6,693 shares of the technology company’s stock valued at $299,000 after purchasing an additional 325 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Forrester Research in the fourth quarter valued at about $27,000. United Services Automobile Association grew its position in shares of Forrester Research by 0.3% in the fourth quarter. United Services Automobile Association now owns 302,669 shares of the technology company’s stock valued at $13,529,000 after purchasing an additional 820 shares during the last quarter. LS Investment Advisors LLC grew its position in Forrester Research by 325.4% during the fourth quarter. LS Investment Advisors LLC now owns 1,174 shares of the technology company’s stock worth $52,000 after buying an additional 898 shares in the last quarter. Finally, Martingale Asset Management L P grew its position in Forrester Research by 2.4% during the third quarter. Martingale Asset Management L P now owns 42,304 shares of the technology company’s stock worth $1,942,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 58.32% of the company’s stock.
A number of equities research analysts recently weighed in on FORR shares. BidaskClub raised Forrester Research from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th. Zacks Investment Research raised Forrester Research from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, February 1st. TheStreet downgraded Forrester Research from a “b-” rating to a “c+” rating in a report on Wednesday, February 13th. Finally, Maxim Group assumed coverage on Forrester Research in a report on Wednesday, February 27th. They set a “buy” rating and a $62.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Forrester Research currently has an average rating of “Hold” and an average target price of $56.00.
In related news, CFO Michael A. Doyle sold 10,415 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $48.72, for a total transaction of $507,418.80. Following the sale, the chief financial officer now owns 50,585 shares in the company, valued at approximately $2,464,501.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan Darrah sold 1,350 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $49.46, for a total transaction of $66,771.00. Following the completion of the transaction, the insider now directly owns 10,387 shares of the company’s stock, valued at approximately $513,741.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,404 shares of company stock worth $705,833. 43.40% of the stock is owned by insiders.
FORR stock opened at $49.81 on Wednesday. Forrester Research, Inc. has a fifty-two week low of $36.19 and a fifty-two week high of $51.17. The company has a market capitalization of $926.51 million, a P/E ratio of 59.30 and a beta of 0.58.
Forrester Research (NASDAQ:FORR) last released its earnings results on Wednesday, February 13th. The technology company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). Forrester Research had a return on equity of 10.61% and a net margin of 4.30%. The business had revenue of $98.58 million for the quarter, compared to analyst estimates of $96.45 million. On average, analysts expect that Forrester Research, Inc. will post -0.48 earnings per share for the current fiscal year.
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Forrester Research Company Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
Further Reading: What is an SEC Filing?
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