Adage Capital, P2 Capital Raise Their Antes On Vitae Pharmaceuticals Inc (VTAE), Forrester Research Inc. (FORR)

Forrester Research, Inc. (NASDAQ:FORR) and P2 Capital Partners have a considerably longer history, as the company has been in the hedge fund’s portfolio since the fourth quarter of 2009. So far this year the stock price of the $547.84 million advisor to global leaders in business and technology is down by more than 21%. In its financial results for the second quarter, Forrester Research, Inc. delivered an EPS of $0.40, which was $0.07 ahead of estimates, while revenues of $82.81 million missed estimates by $4.29 million.

Forrester believes that companies are spending more and more on business technology (BT), with 54% of the new project spending for 2016 being expected to go towards BT, according to a report published by the company. However, this has not translated into high growth for Forrester owing to three main reasons. Firstly, it has only been 18 months since the company started to focus on BT’s future potential. Secondly, many companies are still skeptical about its true value, and thirdly, owing to an extensive focus on BT, the company hasn’t been able to concentrate on its IT-centric clients, resulting in lower renewal rates.

P2 Capital is the largest stockholder of Forrester Research, Inc. (NASDAQ:FORR) among the investors that we track. It is followed by Jim Simons‘ Renaissance Technologies, holding 362,545 shares and Chuck Royce’s Royce & Associates, owning about 329,104 shares.

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