SCHEDULE: Royce & Associates LP Updates Passive Stake in Forrester Research to 5.88%

Royce & Associates LP has filed an amendment to its Schedule 13G, disclosing a continued beneficial ownership of 1,121,297 shares, or 5.88%, of Forrester Research, Inc.'s common stock.

Summary

• Royce & Associates LP, an investment adviser, is the reporting person for this Schedule 13G Amendment No. 13.
• The filing pertains to Common Stock of Forrester Research, Inc., with CUSIP Number 346563109.
• Royce & Associates LP beneficially owns an aggregate of 1,121,297 shares of Forrester Research, Inc. common stock.
• This ownership represents 5.88% of the class of securities.
• Royce & Associates LP holds sole voting power over all 1,121,297 shares.
• Royce & Associates LP holds sole dispositive power over all 1,121,297 shares.
• No shared voting or dispositive power is reported.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Royce & Associates LP is an indirect majority-owned subsidiary of Franklin Resources, Inc. (FRI), but exercises voting and investment powers independently from FRI and its other affiliates.

Sentiment

Score: 6

Explanation: The filing is a standard beneficial ownership disclosure by an investment adviser, indicating a passive stake in Forrester Research. It does not contain operational or financial performance data, so the sentiment is primarily neutral, with a slight positive tilt due to the continued institutional holding.

Positives

• Royce & Associates LP, a significant investment adviser, maintains a substantial passive stake in Forrester Research, indicating continued institutional interest.
• The explicit statement that shares are held in the ordinary course of business and not for control purposes suggests a stable, long-term investment perspective from the reporting entity.

Future Outlook

No forward-looking statements or guidance regarding Forrester Research's operations or financial performance are provided in this beneficial ownership filing.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect."
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."
• "RALP disclaims any pecuniary interest in any of the securities reported in this Schedule 13G."
• "The filing of this Schedule 13G on behalf of RALP should not be construed as an admission that it is, and it disclaims that it is, the beneficial owner, as defined in Rule 13d 3, of any of such securities."
• "RALP believes that it is not a 'group' with FRI affiliates, the Principal Shareholders, or their respective affiliates within the meaning of Rule 13d 5 under the Act and that none of them is otherwise required to attribute to any other the beneficial ownership of the securities held by such person or by any persons or entities for whom or for which RALP or the FRI affiliates provide investment management services."

Industry Context

This filing represents a routine regulatory disclosure by a major institutional investor, Royce & Associates LP, regarding its passive equity stake in Forrester Research, Inc., a company operating in the technology and market research industry. It reflects the ongoing activity of institutional capital allocation within the public markets.

Comparison to Industry Standards

• This filing is a standard Schedule 13G amendment, a common regulatory disclosure for passive beneficial ownership exceeding 5% in U.S. public companies.
• The structure and content align with typical filings by investment advisers like Royce & Associates LP, which manage client assets and report their aggregate holdings.

Related Party Transactions

• Royce & Associates, LP (RALP) is an indirect majority-owned subsidiary of Franklin Resources, Inc. (FRI).
• RALP exercises investment discretion and voting power independently from FRI and all other investment management subsidiaries of FRI (FRI affiliates).
• Internal policies and procedures establish informational barriers between RALP and FRI affiliates to prevent information flow related to voting and investment powers.
• Beneficial ownership of securities reported by RALP is not attributed to Charles B. Johnson and Rupert H. Johnson, Jr., who are principal stockholders of FRI, due to RALP's independent operations.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional shareholder's passive stake, which can be a positive signal of institutional confidence.
• Management: Awareness of a large, passive institutional holder in the company's stock.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of a passive beneficial ownership stake by Royce & Associates LP in Forrester Research, Inc. It does not contain any financial results, strategic updates, or operational news about Forrester Research that would influence a 'buy' or 'sell' decision. The continued holding by a significant institutional investor like Royce & Associates LP might be seen as a neutral to slightly positive signal, but it does not provide a basis for a change in investment thesis. Therefore, a 'hold' recommendation is appropriate as there is no new fundamental information to alter an existing position.

Keywords

Forrester Research, Royce & Associates LP, Beneficial Ownership, Schedule 13G, Common Stock, Investment Adviser, Equity Stake, Passive Investment, SEC Filing