Bank of New York Mellon Corp decreased its stake in Forrester Research Inc. (NASDAQ:FORR) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 160,578 shares of the company’s stock after selling 4,644 shares during the period. Bank of New York Mellon Corp owned 0.90% of Forrester Research worth $5,919,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Forrester Research by 5.7% in the first quarter. Wellington Management Group LLP now owns 1,970,732 shares of the company’s stock valued at $66,237,000 after buying an additional 105,534 shares during the last quarter. GW&K Investment Management LLC increased its stake in Forrester Research by 30.6% in the second quarter. GW&K Investment Management LLC now owns 108,923 shares of the company’s stock valued at $4,015,000 after buying an additional 25,550 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Forrester Research during the second quarter valued at $726,000. Huntington Asset Advisors Inc. purchased a new stake in Forrester Research during the first quarter valued at $534,000. Finally, Bogle Investment Management L P DE purchased a new stake in Forrester Research during the first quarter valued at $524,000. Hedge funds and other institutional investors own 53.65% of the company’s stock.
Forrester Research Inc. (NASDAQ:FORR) remained flat at $40.50 during mid-day trading on Thursday. 61,620 shares of the stock were exchanged. The company’s 50 day moving average is $40.44 and its 200 day moving average is $36.88. Forrester Research Inc. has a 52-week low of $27.05 and a 52-week high of $42.01. The stock has a market capitalization of $731.39 million, a price-to-earnings ratio of 47.59 and a beta of 0.54.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.13. The business had revenue of $87.80 million for the quarter, compared to analysts’ expectations of $84.98 million. Forrester Research had a return on equity of 12.68% and a net margin of 4.66%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share. Equities research analysts predict that Forrester Research Inc. will post $1.20 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Friday, September 2nd. Forrester Research’s dividend payout ratio is presently 86.75%.
Several research firms have weighed in on FORR. Zacks Investment Research upgraded Forrester Research from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Barrington Research reiterated a “market perform” rating on shares of Forrester Research in a research note on Wednesday, June 22nd.
About Forrester Research
Forrester Research, Inc (Forrester) is a global 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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forrester Research Inc. and related companies with MarketBeat.com's FREE daily email newsletter.