Forrester Research (FORR) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	FORR
Entity Registrant Name	FORRESTER RESEARCH, INC.
Entity Central Index Key	1,023,313
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		17,742,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 45,586	$ 49,650
Marketable investments (Note 3)	58,565	54,885
Accounts receivable, net	37,379	67,429
Deferred commissions	9,332	13,754
Prepaid expenses and other current assets	21,154	22,277
Total current assets	172,016	207,995
Property and equipment, net	27,781	32,174
Goodwill	74,772	76,683
Intangible assets, net	2,591	3,382
Other assets	15,540	12,473
Total assets	292,700	332,707
Current Liabilities:
Accounts payable	595	912
Accrued expenses and other current liabilities	29,641	36,217
Deferred revenue	124,195	144,568
Total current liabilities	154,431	181,697
Non-current liabilities	9,277	9,408
Total liabilities	$ 163,708	$ 191,105
Stockholders' Equity (Note 7):
Preferred stock, $0.01 par value Authorized - 500 shares, issued and outstanding - none
Common stock, $0.01 par value Authorized - 125,000 shares Issued - 21,046 and 20,856 as of September 30, 2015 and December 31, 2014, respectively Outstanding 17,808 and 18,153 as of September 30, 2015 and December 31, 2014, respectively	$ 210	$ 209
Additional paid-in capital	132,172	124,942
Retained earnings	118,131	117,318
Treasury stock - 3,238 and 2,703 as of September 30, 2015 and December 31, 2014, respectively, at cost	(117,893)	(99,254)
Accumulated other comprehensive loss	(3,628)	(1,613)
Total stockholders’ equity	128,992	141,602
Total liabilities and stockholders’ equity	$ 292,700	$ 332,707

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	21,046,000	20,856,000
Common stock, shares outstanding	17,808,000	18,153,000
Treasury stock, shares	3,238,000	2,703,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Research services	$ 52,205	$ 50,622	$ 156,667	$ 153,737
Advisory services and events	22,548	24,741	76,084	77,644
Total revenues	74,753	75,363	232,751	231,381
Operating expenses:
Cost of services and fulfillment	29,222	30,105	92,543	93,143
Selling and marketing	27,460	27,677	85,572	86,190
General and administrative	9,530	10,023	28,564	29,365
Depreciation	2,048	2,174	6,251	7,236
Amortization of intangible assets	224	530	669	1,605
Reorganization costs (credits)	928	(71)	4,433	1,817
Total operating expenses	69,412	70,438	218,032	219,356
Income from operations	5,341	4,925	14,719	12,025
Other income, net	159	232	342	247
Gains (losses) on investments, net	245	(105)	236	(25)
Income before income taxes	5,745	5,052	15,297	12,247
Income tax provision	1,295	2,009	5,321	4,981
Net income	$ 4,450	$ 3,043	$ 9,976	$ 7,266
Basic income per common share	$ 0.25	$ 0.17	$ 0.55	$ 0.38
Diluted income per common share	$ 0.25	$ 0.16	$ 0.55	$ 0.38
Basic weighted average common shares outstanding	17,892	18,287	17,986	18,886
Diluted weighted average common shares outstanding	18,065	18,549	18,231	19,169
Cash dividends declared per common share	$ 0.17	$ 0.16	$ 0.51	$ 0.48

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 4,450	$ 3,043	$ 9,976	$ 7,266
Other comprehensive income (loss), net of taxes:
Foreign currency translation	(129)	(2,333)	(2,062)	(2,394)
Net change in market value of investments		(59)	47	(23)
Other comprehensive loss	(129)	(2,392)	(2,015)	(2,417)
Comprehensive income	$ 4,321	$ 651	$ 7,961	$ 4,849

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 9,976	$ 7,266
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and asset write-offs	6,408	7,236
Amortization of intangible assets	669	1,605
Net (gains) losses from investments	(236)	25
Deferred income taxes	(2,463)	(5,406)
Stock-based compensation	5,885	5,148
Amortization of premium on investments	556	1,048
Foreign currency losses	64	234
Changes in assets and liabilities
Accounts receivable	29,511	37,921
Deferred commissions	4,422	3,230
Prepaid expenses and other current assets	(148)	(255)
Accounts payable	(284)	18
Accrued expenses and other liabilities	(7,115)	(7,924)
Deferred revenue	(19,027)	(22,295)
Net cash provided by operating activities	28,218	27,851
Cash flows from investing activities:
Purchases of property and equipment	(2,316)	(1,110)
Purchases of marketable investments	(20,587)	(27,165)
Proceeds from sales and maturities of marketable investments	16,428	51,610
Other investing activity	275	1,471
Net cash provided by (used in) investing activities	(6,200)	24,806
Cash flows from financing activities:
Dividends paid on common stock	(9,163)	(9,053)
Repurchases of common stock	(18,639)	(66,557)
Proceeds from issuance of common stock under employee equity incentive plans	2,899	6,781
Excess tax benefits from stock-based compensation	32	157
Net cash used in financing activities	(24,871)	(68,672)
Effect of exchange rate changes on cash and cash equivalents	(1,211)	(1,185)
Net decrease in cash and cash equivalents	(4,064)	(17,200)
Cash and cash equivalents, beginning of period	49,650	74,132
Cash and cash equivalents, end of period	$ 45,586	$ 56,932

Interim Consolidated Financial

Interim Consolidated Financial Statements	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Interim Consolidated Financial Statements	Note 1 — Interim Consolidated Financial Statements Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Forrester Research, Inc. (“Forrester”) Annual Report on Form 10-K for the year ended December 31, 2014. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the financial position, results of operations, comprehensive income and cash flows as of the dates and for the periods presented have been included. The results of operations for the three and nine months ended September 30, 2015 may not be indicative of the results for the year ending December 31, 2015, or any other period. Fair Value Measurements The carrying amounts reflected in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. See Note 3 – Marketable Investments for the fair value of the Company’s marketable investments.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 2 — Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) are as follows (in thousands): Total Net Unrealized Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2015 $ (74 ) $ (1,539 ) $ (1,613 ) Foreign currency translation — (2,062 ) (2,062 ) Unrealized gain on investments, net of tax of $29 47 — 47 Balance at September 30, 2015 $ (27 ) $ (3,601 ) $ (3,628 ) Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at July 1, 2015 $ (27 ) $ (3,472 ) $ (3,499 ) Foreign currency translation — (129 ) (129 ) Balance at September 30, 2015 $ (27 ) $ (3,601 ) $ (3,628 ) Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2014 $ 16 $ 2,438 $ 2,454 Foreign currency translation — (2,394 ) (2,394 ) Unrealized loss on investments before reclassification, net of tax of $6 (18 ) — (18 ) Reclassification adjustment for net gains realized in net income, net of tax of $7 (5 ) — (5 ) Balance at September 30, 2014 $ (7 ) $ 44 $ 37 Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at July 1, 2014 $ 52 $ 2,377 $ 2,429 Foreign currency translation — (2,333 ) (2,333 ) Unrealized loss on investments before reclassification, net of tax of $33 (51 ) — (51 ) Reclassification adjustment for net gains realized in net income, net of tax of $5 (8 ) — (8 ) Balance at September 30, 2014 $ (7 ) $ 44 $ 37 Reclassification adjustments for net gains (losses) are reported in gains (losses) on investments, net in the Consolidated Statements of Income.

Marketable Investments

Marketable Investments	9 Months Ended
	Sep. 30, 2015
Investments Debt And Equity Securities [Abstract]
Marketable Investments	Note 3 — Marketable Investments The following table summarizes the Company’s marketable investments (in thousands): As of September 30, 2015 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 58,608 $ 15 $ (58 ) $ 58,565 As of December 31, 2014 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 55,005 $ 13 $ (133 ) $ 54,885 Realized gains and losses on securities are included in earnings and are determined using the specific identification method. Realized gains or losses on the sale of the Company’s corporate obligations were not material in the three and nine months ended September 30, 2015 or 2014. The following table summarizes the maturity periods of the marketable securities in the Company’s portfolio as of September 30, 2015 (in thousands). FY 2015 FY 2016 FY 2017 Thereafter Total Corporate obligations $ 4,501 $ 25,434 $ 23,632 $ 4,998 $ 58,565 The following table shows the gross unrealized losses and market value of Forrester’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): As of September 30, 2015 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 24,065 $ 52 $ 2,035 $ 6 As of December 31, 2014 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 38,175 $ 133 $ — $ — Fair Value The Company measures certain financial assets at fair value on a recurring basis, including cash equivalents and available-for-sale securities. The fair values of these financial assets have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements. Level 1 — Fair value based on quoted prices in active markets for identical assets or liabilities. Level 2 — Fair value based on inputs other than Level 1 inputs that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Fair value based on unobservable inputs that are supported by little or no market activity and such inputs are significant to the fair value of the assets or liabilities. The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Money market funds (1) $ 3,181 $ — $ — $ 3,181 Corporate obligations — 58,565 — 58,565 Total $ 3,181 $ 58,565 $ — $ 61,746 As of December 31, 2014 Level 1 Level 2 Level 3 Total Money market funds (1) $ 1,794 $ — $ — $ 1,794 Corporate obligations — 54,885 — 54,885 Total $ 1,794 $ 54,885 $ — $ 56,679 (1) Included in cash and cash equivalents. Level 2 assets consist of the Company’s entire portfolio of corporate bonds. Level 2 assets have been initially valued at the transaction price and subsequently valued, at the end of each reporting period, typically utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

Non-Marketable Investments

Non-Marketable Investments	9 Months Ended
	Sep. 30, 2015
Investments Debt And Equity Securities [Abstract]
Non-Marketable Investments	Note 4 — Non-Marketable Investments At September 30, 2015 and December 31, 2014, the carrying value of the Company’s non-marketable investments, which were composed primarily of interests in technology-related private equity funds, was $3.9 million and $3.8 million, respectively, and is included in other assets in the Consolidated Balance Sheets. One of the Company’s investments, with a book value of $0.6 million and $0.7 million at September 30, 2015 and December 31, 2014, respectively, is being accounted for using the cost method and, accordingly, is valued at cost unless an other-than-temporary impairment in its value occurs. The other investments are being accounted for using the equity method as the investments are limited partnerships and the Company has an ownership interest in excess of 5% and, accordingly, the Company records its share of the investee’s operating results each period. Gains and losses from non-marketable investments were insignificant during the three and nine months ended September 30, 2015 and 2014, and are included in gains (losses) on investments, net in the Consolidated Statements of Income. During the nine months ended September 30, 2015 and 2014, gross distributions of $0.1 million and $1.5 million, respectively, were received from the funds.

Reorganization

Reorganization	9 Months Ended
	Sep. 30, 2015
Restructuring And Related Activities [Abstract]
Reorganization	Note 5 — Reorganization In the first quarter of 2015, the Company implemented a reduction in its workforce of approximately 4% of its employees across various geographies and functions, in order to reallocate investment in 2015 to planned sales expansion and to delivery areas seeing the greatest client demand. Overall the Company expects to increase its headcount by approximately 1% at the end of 2015 compared to 2014 levels. The Company recorded $3.2 million of severance and related costs for this action during the nine months ended September 30, 2015. In addition, the Company incurred $0.3 million during the nine months ended September 30, 2015 primarily for a non-cash charge for the liquidation of a small non-U.S. subsidiary. The costs under this plan are expected to be substantially paid by the end of 2015. In the third quarter of 2015 the Company incurred $0.7 million of severance and related benefits for the reorganization of its Products Group, consisting of the termination of the chief product officer and related administrative staff, and the termination of a senior product leader with the intent to relocate this position to the U.S. The responsibilities of the former chief product officer have been assumed by the Company’s chief research officer. In addition, as a result of the change in leadership in the Products Group, the Company incurred $0.2 million of expense to write off a software development project that was no longer deemed probable to be completed. Approximately $0.5 million of the severance and related benefit costs incurred during 2015 are expected to be paid in 2016 and the remainder will be paid in 2015. During the nine months ended September 30, 2014 the Company incurred $1.8 million of severance and related costs for the termination of approximately 1% of its employees across various geographies and functions primarily to realign resources due to the Company’s new organizational structure put in place in late 2013. The following table rolls forward the activity in the reorganization accrual for the nine months ended September 30, 2015 (in thousands): Workforce Subsidiary Products Group Reduction Liquidation Reorganization Total Accrual at December 31, 2014 $ 118 $ — $ — $ 118 Additions 3,173 334 926 4,433 Cash payments (3,134 ) — — (3,134 ) Non-cash charge — (318 ) (157 ) (475 ) Accrual at September 30, 2015 $ 157 $ 16 $ 769 $ 942

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Income Per Common Share	Note 6 — Net Income Per Common Share Basic net income per common share is computed by dividing net income by the basic weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the diluted weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury-stock method. Common equivalent shares consist of common stock issuable on the exercise of outstanding options and vesting of restricted stock units when dilutive. Basic and diluted weighted average common shares are as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic weighted average common shares outstanding 17,892 18,287 17,986 18,886 Weighted average common equivalent shares 173 262 245 283 Diluted weighted average common shares outstanding 18,065 18,549 18,231 19,169 Options excluded from diluted weighted average share calculation as effect would have been anti-dilutive 1,503 610 1,069 591

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	Note 7 — Stockholders’ Equity Equity Plans Stock option activity for the nine months ended September 30, 2015 is presented below (in thousands, except per share data): Weighted - Weighted - Average Average Exercise Remaining Aggregate Number Price Per Contractual Intrinsic of Shares Share Term (in years) Value Outstanding at December 31, 2014 1,954 $ 33.81 Granted 450 33.74 Exercised (49 ) 29.38 Forfeited (111 ) 36.23 Outstanding at September 30, 2015 2,244 $ 33.77 6.92 $ 2,000 Exercisable at September 30, 2015 1,132 $ 32.14 5.06 $ 1,817 Vested and expected to vest at September 30, 2015 2,114 $ 33.67 6.78 $ 1,989 Restricted stock unit activity for the nine months ended September 30, 2015 is presented below (in thousands, except per share data): Weighted- Average Number of Grant Date Shares Fair Value Unvested at December 31, 2014 433 $ 35.64 Granted 258 31.50 Vested (134 ) 35.29 Forfeited (39 ) 35.45 Unvested at September 30, 2015 518 $ 33.68 Stock-Based Compensation Forrester recognizes the fair value of stock-based compensation in net income over the requisite service period of the individual grantee, which generally equals the vesting period. Stock-based compensation was recorded in the following expense categories (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Cost of services and fulfillment $ 1,183 $ 1,134 $ 3,218 $ 3,005 Selling and marketing 331 302 754 767 General and administrative 710 547 1,913 1,376 Total $ 2,224 $ 1,983 $ 5,885 $ 5,148 Forrester utilizes the Black-Scholes valuation model for estimating the fair value of stock options. Options granted under the equity incentive plans and shares subject to purchase under the employee stock purchase plan were valued using the following assumptions: Three Months Ended Three Months Ended September 30, 2015 September 30, 2014 Equity Incentive Employee Stock Equity Incentive Employee Stock Plans Purchase Plan Plans Purchase Plan Average risk-free interest rate 1.63 % 0.14 % 1.70 % 0.06 % Expected dividend yield 2.1 % 2.1 % 1.8 % 1.8 % Expected life 5.0 Years 0.5 Years 5.1 Years 0.5 Years Expected volatility 24 % 21 % 25 % 23 % Weighted average fair value $ 6.00 $ 6.43 $ 7.68 $ 8.00 Nine Months Ended Nine Months Ended September 30, 2015 September 30, 2014 Equity Incentive Employee Stock Equity Incentive Employee Stock Plans Purchase Plan Plans Purchase Plan Average risk-free interest rate 1.60 % 0.14 % 1.69 % 0.06 % Expected dividend yield 2.1 % 2.1 % 1.8 % 1.8 % Expected life 5.0 Years 0.5 Years 5.1 Years 0.5 Years Expected volatility 24 % 21 % 26 % 23 % Weighted average fair value $ 6.16 $ 6.43 $ 7.91 $ 8.00 Dividends In the nine months ended September 30, 2015, the Company declared and paid dividends of $9.2 million consisting of a $0.17 per share dividend in each of the first three quarters of 2015. In the nine months ended September 30, 2014, the Company declared and paid dividends of $9.1 million consisting of a $0.16 per share dividend in each of the first three quarters of 2014. In October 2015, the Company declared a dividend of $0.17 per share payable on December 16, 2015 to shareholders of record as of December 2, 2015. Treasury Stock As of September 30, 2015 Forrester’s Board of Directors had authorized an aggregate $460.0 million to purchase common stock under its stock repurchase program, including $25.0 million authorized in each of February and July 2015. The shares repurchased may be used, among other things, in connection with Forrester’s employee and director equity incentive and purchase plans. In the three and nine months ended September 30, 2015, the Company repurchased 0.2 million shares and 0.5 million shares, respectively, of common stock at an aggregate cost of $6.9 million and $18.6 million, respectively. In the three and nine months ended September 30, 2014, the Company repurchased 0.3 million shares and 1.8 million shares, respectively, of common stock at an aggregate cost of $11.6 million and $66.6 million, respectively. From the inception of the program through September 30, 2015, Forrester repurchased 14.9 million shares of common stock at an aggregate cost of $420.9 million.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 — Income Taxes Forrester provides for income taxes on an interim basis according to management’s estimate of the effective tax rate expected to be applicable for the full fiscal year. Certain items such as changes in tax rates and tax benefits related to disqualifying dispositions of incentive stock options are treated as discrete items and are recorded in the period in which they arise. Income tax expense for the nine months ended September 30, 2015 was $5.3 million resulting in an effective tax rate of 34.8% for the period. Income tax expense for the nine months ended September 30, 2014 was $5.0 million resulting in an effective tax rate of 40.7% for the period. The decrease in the effective tax rate for nine months ended September 30, 2015 as compared to the prior year period is primarily due to a $0.7 million tax benefit in the 2015 period related the U.S. Tax Court opinion in the “Altera” case as described below. In addition, the 2015 period includes a $0.3 million loss on the liquidation of a foreign subsidiary in the 2015 period for which a tax benefit could not be recognized, partially offset by a $0.2 million expense in the 2014 period for a U.S. state audit that did not recur in 2015. In July 2015 the U.S. Tax Court issued an opinion in Altera Corp. v. Commissioner

Operating Segments

Operating Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Operating Segments	Note 9 — Operating Segments The Research segment includes the costs of the Company’s research personnel who are responsible for writing the research and performing the webinars and inquiries for the Company’s RoleView product. In addition, the research personnel deliver advisory services (such as workshops, speeches and advisory days) and a portion of the Company’s project consulting services. Revenue in this segment includes only revenue from advisory services and project consulting services that are delivered by the research personnel in this segment. During 2013, the Company began to transition the delivery of project consulting to a dedicated project consulting organization. The transition was essentially complete at the end of 2014 such that the vast majority of project consulting has been and will continue to be delivered by the project consulting organization in 2015. The Product segment includes the costs of the product management organization that is responsible for product pricing and packaging and the launch of new products. In addition, this segment includes the costs of the Company’s data, Forrester Leadership Boards and events organizations. Revenue in this segment includes all revenue for the Company (including RoleView) except for revenue from advisory services and project consulting services that are delivered by personnel in the Research and Project Consulting segments. The Project Consulting segment includes the costs of the consultants that deliver the Company’s project consulting services. During 2013 the Company began to hire dedicated consultants to transition the delivery of project consulting services from research personnel (included in the Research segment) to the new Project Consulting segment. Revenue in this segment includes the project consulting revenue delivered by the consultants in this segment. The Company evaluates reportable segment performance and allocates resources based on segment revenues and expenses. Segment expenses include the direct expenses of each segment organization and exclude selling and marketing expenses, general and administrative expenses, stock-based compensation expense, depreciation expense, adjustments to incentive bonus compensation from target amounts, amortization of intangible assets, reorganization costs and credits, other income and gains (losses) on investments. The accounting policies used by the segments are the same as those used in the consolidated financial statements. Project Products Research Consulting Consolidated Three Months Ended September 30, 2015 Research services revenues $ 52,205 $ — $ — $ 52,205 Advisory services and events revenues 2,041 9,804 10,703 22,548 Total segment revenues 54,246 9,804 10,703 74,753 Segment expenses 7,918 12,711 6,811 27,440 Contribution margin (loss) 46,328 (2,907 ) 3,892 47,313 Selling, marketing, administrative and other expenses (40,820 ) Amortization of intangible assets (224 ) Reorganization (costs) credits (928 ) Other income and gains (losses) on investments 404 Income before income taxes $ 5,745 Project Products Research Consulting Consolidated Three Months Ended September 30, 2014 Research services revenues $ 50,622 $ — $ — $ 50,622 Advisory services and events revenues 2,310 10,925 11,506 24,741 Total segment revenues 52,932 10,925 11,506 75,363 Segment expenses 8,298 13,012 7,590 28,900 Contribution margin (loss) 44,634 (2,087 ) 3,916 46,463 Selling, marketing, administrative and other expenses (41,079 ) Amortization of intangible assets (530 ) Reorganization (costs) credits 71 Other income and gains (losses) on investments 127 Income before income taxes $ 5,052 Project Products Research Consulting Consolidated Nine Months Ended September 30, 2015 Research services revenues $ 156,667 $ — $ — $ 156,667 Advisory services and events revenues 12,763 31,454 31,867 76,084 Total segment revenues 169,430 31,454 31,867 232,751 Segment expenses 27,799 38,467 20,544 86,810 Contribution margin (loss) 141,631 (7,013 ) 11,323 145,941 Selling, marketing, administrative and other expenses (126,120 ) Amortization of intangible assets (669 ) Reorganization (costs) credits (4,433 ) Other income and gains (losses) on investments 578 Income before income taxes $ 15,297 Project Products Research Consulting Consolidated Nine Months Ended September 30, 2014 Research services revenues $ 153,737 $ — $ — $ 153,737 Advisory services and events revenues 15,161 37,573 24,910 77,644 Total segment revenues 168,898 37,573 24,910 231,381 Segment expenses 28,543 40,386 19,705 88,634 Contribution margin (loss) 140,355 (2,813 ) 5,205 142,747 Selling, marketing, administrative and other expenses (127,300 ) Amortization of intangible assets (1,605 ) Reorganization (costs) credits (1,817 ) Other income and gains (losses) on investments 222 Income before income taxes $ 12,247

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 10 — Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09, Revenue from Contracts with Customers, which supersedes all existing revenue recognition requirements, including most industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. The new standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted for the first interim period within annual reporting periods beginning after December 15, 2016.

Interim Consolidated Financia17

Interim Consolidated Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Forrester Research, Inc. (“Forrester”) Annual Report on Form 10-K for the year ended December 31, 2014. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the financial position, results of operations, comprehensive income and cash flows as of the dates and for the periods presented have been included. The results of operations for the three and nine months ended September 30, 2015 may not be indicative of the results for the year ending December 31, 2015, or any other period.
Fair Value Measurements	Fair Value Measurements The carrying amounts reflected in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. See Note 3 – Marketable Investments for the fair value of the Company’s marketable investments.

Accumulated Other Comprehensi18

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) are as follows (in thousands): Total Net Unrealized Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2015 $ (74 ) $ (1,539 ) $ (1,613 ) Foreign currency translation — (2,062 ) (2,062 ) Unrealized gain on investments, net of tax of $29 47 — 47 Balance at September 30, 2015 $ (27 ) $ (3,601 ) $ (3,628 ) Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at July 1, 2015 $ (27 ) $ (3,472 ) $ (3,499 ) Foreign currency translation — (129 ) (129 ) Balance at September 30, 2015 $ (27 ) $ (3,601 ) $ (3,628 ) Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2014 $ 16 $ 2,438 $ 2,454 Foreign currency translation — (2,394 ) (2,394 ) Unrealized loss on investments before reclassification, net of tax of $6 (18 ) — (18 ) Reclassification adjustment for net gains realized in net income, net of tax of $7 (5 ) — (5 ) Balance at September 30, 2014 $ (7 ) $ 44 $ 37 Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at July 1, 2014 $ 52 $ 2,377 $ 2,429 Foreign currency translation — (2,333 ) (2,333 ) Unrealized loss on investments before reclassification, net of tax of $33 (51 ) — (51 ) Reclassification adjustment for net gains realized in net income, net of tax of $5 (8 ) — (8 ) Balance at September 30, 2014 $ (7 ) $ 44 $ 37

Marketable Investments (Tables)

Marketable Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Investments Debt And Equity Securities [Abstract]
Summary of Company's Marketable Investments	The following table summarizes the Company’s marketable investments (in thousands): As of September 30, 2015 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 58,608 $ 15 $ (58 ) $ 58,565 As of December 31, 2014 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 55,005 $ 13 $ (133 ) $ 54,885
Summary of Maturity Periods of Marketable Securities	The following table summarizes the maturity periods of the marketable securities in the Company’s portfolio as of September 30, 2015 (in thousands). FY 2015 FY 2016 FY 2017 Thereafter Total Corporate obligations $ 4,501 $ 25,434 $ 23,632 $ 4,998 $ 58,565
Summary of Gross Unrealized Losses and Market Value of Available-for-Sale Securities with Unrealized Losses	The following table shows the gross unrealized losses and market value of Forrester’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): As of September 30, 2015 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 24,065 $ 52 $ 2,035 $ 6 As of December 31, 2014 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 38,175 $ 133 $ — $ —
Summary of Company's Fair Value Hierarchy for its Financial Assets	The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Money market funds (1) $ 3,181 $ — $ — $ 3,181 Corporate obligations — 58,565 — 58,565 Total $ 3,181 $ 58,565 $ — $ 61,746 As of December 31, 2014 Level 1 Level 2 Level 3 Total Money market funds (1) $ 1,794 $ — $ — $ 1,794 Corporate obligations — 54,885 — 54,885 Total $ 1,794 $ 54,885 $ — $ 56,679 (1) Included in cash and cash equivalents.

Reorganization (Tables)

Reorganization (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring And Related Activities [Abstract]
Schedule of Rolls Forward of Activity in Reorganization Accrual	The following table rolls forward the activity in the reorganization accrual for the nine months ended September 30, 2015 (in thousands): Workforce Subsidiary Products Group Reduction Liquidation Reorganization Total Accrual at December 31, 2014 $ 118 $ — $ — $ 118 Additions 3,173 334 926 4,433 Cash payments (3,134 ) — — (3,134 ) Non-cash charge — (318 ) (157 ) (475 ) Accrual at September 30, 2015 $ 157 $ 16 $ 769 $ 942

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Weighted Average Common Shares	Basic and diluted weighted average common shares are as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic weighted average common shares outstanding 17,892 18,287 17,986 18,886 Weighted average common equivalent shares 173 262 245 283 Diluted weighted average common shares outstanding 18,065 18,549 18,231 19,169 Options excluded from diluted weighted average share calculation as effect would have been anti-dilutive 1,503 610 1,069 591

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Stock Option Activity	Stock option activity for the nine months ended September 30, 2015 is presented below (in thousands, except per share data): Weighted - Weighted - Average Average Exercise Remaining Aggregate Number Price Per Contractual Intrinsic of Shares Share Term (in years) Value Outstanding at December 31, 2014 1,954 $ 33.81 Granted 450 33.74 Exercised (49 ) 29.38 Forfeited (111 ) 36.23 Outstanding at September 30, 2015 2,244 $ 33.77 6.92 $ 2,000 Exercisable at September 30, 2015 1,132 $ 32.14 5.06 $ 1,817 Vested and expected to vest at September 30, 2015 2,114 $ 33.67 6.78 $ 1,989
Schedule of Restricted Stock Unit Activity	Restricted stock unit activity for the nine months ended September 30, 2015 is presented below (in thousands, except per share data): Weighted- Average Number of Grant Date Shares Fair Value Unvested at December 31, 2014 433 $ 35.64 Granted 258 31.50 Vested (134 ) 35.29 Forfeited (39 ) 35.45 Unvested at September 30, 2015 518 $ 33.68
Schedule of Stock-Based Compensation Recorded in Expense Categories	Stock-based compensation was recorded in the following expense categories (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Cost of services and fulfillment $ 1,183 $ 1,134 $ 3,218 $ 3,005 Selling and marketing 331 302 754 767 General and administrative 710 547 1,913 1,376 Total $ 2,224 $ 1,983 $ 5,885 $ 5,148
Schedule of Options Granted Under Equity Incentive Plans and Shares Subject to Employee Stock Purchase Plan Valuation Assumptions	Options granted under the equity incentive plans and shares subject to purchase under the employee stock purchase plan were valued using the following assumptions: Three Months Ended Three Months Ended September 30, 2015 September 30, 2014 Equity Incentive Employee Stock Equity Incentive Employee Stock Plans Purchase Plan Plans Purchase Plan Average risk-free interest rate 1.63 % 0.14 % 1.70 % 0.06 % Expected dividend yield 2.1 % 2.1 % 1.8 % 1.8 % Expected life 5.0 Years 0.5 Years 5.1 Years 0.5 Years Expected volatility 24 % 21 % 25 % 23 % Weighted average fair value $ 6.00 $ 6.43 $ 7.68 $ 8.00 Nine Months Ended Nine Months Ended September 30, 2015 September 30, 2014 Equity Incentive Employee Stock Equity Incentive Employee Stock Plans Purchase Plan Plans Purchase Plan Average risk-free interest rate 1.60 % 0.14 % 1.69 % 0.06 % Expected dividend yield 2.1 % 2.1 % 1.8 % 1.8 % Expected life 5.0 Years 0.5 Years 5.1 Years 0.5 Years Expected volatility 24 % 21 % 26 % 23 % Weighted average fair value $ 6.16 $ 6.43 $ 7.91 $ 8.00

Operating Segments (Tables)

Operating Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments	Project Products Research Consulting Consolidated Three Months Ended September 30, 2015 Research services revenues $ 52,205 $ — $ — $ 52,205 Advisory services and events revenues 2,041 9,804 10,703 22,548 Total segment revenues 54,246 9,804 10,703 74,753 Segment expenses 7,918 12,711 6,811 27,440 Contribution margin (loss) 46,328 (2,907 ) 3,892 47,313 Selling, marketing, administrative and other expenses (40,820 ) Amortization of intangible assets (224 ) Reorganization (costs) credits (928 ) Other income and gains (losses) on investments 404 Income before income taxes $ 5,745 Project Products Research Consulting Consolidated Three Months Ended September 30, 2014 Research services revenues $ 50,622 $ — $ — $ 50,622 Advisory services and events revenues 2,310 10,925 11,506 24,741 Total segment revenues 52,932 10,925 11,506 75,363 Segment expenses 8,298 13,012 7,590 28,900 Contribution margin (loss) 44,634 (2,087 ) 3,916 46,463 Selling, marketing, administrative and other expenses (41,079 ) Amortization of intangible assets (530 ) Reorganization (costs) credits 71 Other income and gains (losses) on investments 127 Income before income taxes $ 5,052 Project Products Research Consulting Consolidated Nine Months Ended September 30, 2015 Research services revenues $ 156,667 $ — $ — $ 156,667 Advisory services and events revenues 12,763 31,454 31,867 76,084 Total segment revenues 169,430 31,454 31,867 232,751 Segment expenses 27,799 38,467 20,544 86,810 Contribution margin (loss) 141,631 (7,013 ) 11,323 145,941 Selling, marketing, administrative and other expenses (126,120 ) Amortization of intangible assets (669 ) Reorganization (costs) credits (4,433 ) Other income and gains (losses) on investments 578 Income before income taxes $ 15,297 Project Products Research Consulting Consolidated Nine Months Ended September 30, 2014 Research services revenues $ 153,737 $ — $ — $ 153,737 Advisory services and events revenues 15,161 37,573 24,910 77,644 Total segment revenues 168,898 37,573 24,910 231,381 Segment expenses 28,543 40,386 19,705 88,634 Contribution margin (loss) 140,355 (2,813 ) 5,205 142,747 Selling, marketing, administrative and other expenses (127,300 ) Amortization of intangible assets (1,605 ) Reorganization (costs) credits (1,817 ) Other income and gains (losses) on investments 222 Income before income taxes $ 12,247

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Loss) - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (3,499)	$ 2,429	$ (1,613)	$ 2,454
Foreign currency translation	(129)	(2,333)	(2,062)	(2,394)
Unrealized gain (Loss) on investments before reclassification, net of tax		(51)	47	(18)
Reclassification adjustment for net gains realized in net income, net of tax		(8)		(5)
Ending Balance	(3,628)	37	(3,628)	37
Accumulated Net Unrealized Investment Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(27)	52	(74)	16
Unrealized gain (Loss) on investments before reclassification, net of tax		(51)	47	(18)
Reclassification adjustment for net gains realized in net income, net of tax		(8)		(5)
Ending Balance	(27)	(7)	(27)	(7)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(3,472)	2,377	(1,539)	2,438
Foreign currency translation	(129)	(2,333)	(2,062)	(2,394)
Ending Balance	$ (3,601)	$ 44	$ (3,601)	$ 44

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income Loss Tax Parenthetical Disclosures [Abstract]
Tax on Unrealized [gain/loss] on investments before reclassification	$ 33	$ 29	$ 6
Tax on reclassification adjustment for net [gain/loss] realized in net income	$ (5)		$ (7)

Marketable Investments - Summar

Marketable Investments - Summary of Company's Marketable Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Market Value	$ 58,565	$ 54,885
Corporate Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	58,608	55,005
Gross Unrealized Gains	15	13
Gross Unrealized Losses	(58)	(133)
Market Value	$ 58,565	$ 54,885

Marketable Investments - Summ27

Marketable Investments - Summary of Maturity Periods of the Marketable Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total	$ 58,565	$ 54,885
Corporate Obligations [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
FY 2,015	4,501
FY 2,016	25,434
FY 2,017	23,632
Thereafter	4,998
Total	$ 58,565	$ 54,885

Marketable Investments - Summ28

Marketable Investments - Summary of Gross Unrealized Losses and Market Value of Available-for-Sale Securities with Unrealized Losses (Detail) - Corporate Obligations [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less Than 12 Months, Market Value	$ 24,065	$ 38,175
Available for sale securities, Less Than 12 Months, Unrealized Losses	52	$ 133
Available for sale securities, 12 Months or Greater, Market Value	2,035
Available for sale securities, 12 Months or Greater, Unrealized Losses	$ 6

Marketable Investments - Summ29

Marketable Investments - Summary of Company's Fair Value Hierarchy for its Financial Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	$ 61,746	$ 56,679
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	3,181	1,794
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	58,565	54,885
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	3,181	1,794
Money Market Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	3,181	1,794
Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	58,565	54,885
Corporate Obligations [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	$ 58,565	$ 54,885

Non-Marketable Investments - Ad

Non-Marketable Investments - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Carrying value of the Company's non-marketable investments	$ 3.9		$ 3.8
Book value of investment	0.6		$ 0.7
Gross distributions received from funds	$ 0.1	$ 1.5
Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Ownership interest of Company	5.00%

Reorganization - Additional Inf

Reorganization - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Percentage of workforce reduction		4.00%		1.00%
Severance costs			$ 3,200	$ 1,800
Reorganization costs			4,433
Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Expected increase in the workforce					1.00%
Subsidiary Liquidation [Member]
Restructuring Cost and Reserve [Line Items]
Reorganization costs			332
Products Group Reorganization [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 700
Reorganization costs			$ 926
Expected severance and related benefit costs to be paid in 2016	500
Products Group Reorganization [Member] | Software Development Project [Member]
Restructuring Cost and Reserve [Line Items]
Expense to write off	$ 200

Reorganization - Schedule of Ro

Reorganization - Schedule of Rolls Forward of Activity in Reorganization Accrual (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Accrual Beginning Balance	$ 118
Additions	4,433
Cash payments	(3,134)
Non-cash charge	(475)
Accrual Ending Balance	942
Workforce Reduction [Member]
Restructuring Cost and Reserve [Line Items]
Accrual Beginning Balance	118
Additions	3,173
Cash payments	(3,134)
Accrual Ending Balance	157
Subsidiary Liquidation [Member]
Restructuring Cost and Reserve [Line Items]
Additions	334
Non-cash charge	(318)
Accrual Ending Balance	16
Products Group Reorganization [Member]
Restructuring Cost and Reserve [Line Items]
Additions	926
Non-cash charge	(157)
Accrual Ending Balance	$ 769

Net Income Per Common Share - S

Net Income Per Common Share - Schedule of Basic and Diluted Weighted Average Common Shares (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	17,892	18,287	17,986	18,886
Weighted average common equivalent shares	173	262	245	283
Diluted weighted average common shares outstanding	18,065	18,549	18,231	19,169
Options excluded from diluted weighted average share calculation as effect would have been anti-dilutive	1,503	610	1,069	591

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding at December 31, 2014	1,954
Number of Shares, Granted	450
Number of Shares, Exercised	(49)
Number of Shares, Forfeited	(111)
Number of Shares, Outstanding at September 30, 2015	2,244
Number of Shares, Exercisable at September 30, 2015	1,132
Number of Shares, Vested and expected to vest at September 30, 2015	2,114
Weighted - Average Exercise Price Per Share, Outstanding, Beginning balance | $ / shares	$ 33.81
Weighted - Average Exercise Price Per Share, Granted | $ / shares	33.74
Weighted - Average Exercise Price Per Share, Exercised | $ / shares	29.38
Weighted - Average Exercise Price Per Share, Forfeited | $ / shares	36.23
Weighted - Average Exercise Price Per Share, Outstanding, Ending balance | $ / shares	33.77
Weighted - Average Exercise Price Per Share, Exercisable at September 30, 2015 | $ / shares	32.14
Weighted Average Exercise Price Per Share, Vested and expected to vest at September 30, 2015 | $ / shares	$ 33.67
Weighted - Average Remaining Contractual Term, Outstanding at September 30, 2015	6 years 11 months 1 day
Weighted - Average Remaining Contractual Term, Exercisable at September 30, 2015	5 years 22 days
Weighted - Average Remaining Contractual Term, Vested and expected to vest at September 30, 2015	6 years 9 months 11 days
Aggregate Intrinsic Value, Outstanding at September 30, 2015 | $	$ 2,000
Aggregate Intrinsic Value, Exercisable at September 30, 2015 | $	1,817
Aggregate Intrinsic Value, Vested and expected to vest at September 30, 2015 | $	$ 1,989

Stockholders' Equity - Schedu35

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Unvested at December 31, 2014	433
Number of Shares, Granted	258
Number of Shares, Vested	(134)
Number of Shares, Forfeited	(39)
Number of Shares, Unvested at September 30, 2015	518
Weighted-Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares	$ 35.64
Weighted-Average Grant Date Fair Value, Granted | $ / shares	31.50
Weighted-Average Grant Date Fair Value, Vested or settled | $ / shares	35.29
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	35.45
Weighted-Average Grant Date Fair Value , Unvested, Ending Balance | $ / shares	$ 33.68

Stockholders' Equity - Schedu36

Stockholders' Equity - Schedule of Stock-Based Compensation Recorded in Expense Categories (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total allocated share-based compensation expense	$ 2,224	$ 1,983	$ 5,885	$ 5,148
Cost of Services and Fulfillment [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total allocated share-based compensation expense	1,183	1,134	3,218	3,005
Selling and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total allocated share-based compensation expense	331	302	754	767
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total allocated share-based compensation expense	$ 710	$ 547	$ 1,913	$ 1,376

Stockholders' Equity - Schedu37

Stockholders' Equity - Schedule of Options Granted Under Equity Incentive Plans and Shares Subject to Employee Stock Purchase Plan Valuation Assumptions (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Equity Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	1.63%	1.70%	1.60%	1.69%
Expected dividend yield	2.10%	1.80%	2.10%	1.80%
Expected life	5 years	5 years 1 month 6 days	5 years	5 years 1 month 6 days
Expected volatility	24.00%	25.00%	24.00%	26.00%
Weighted average fair value	$ 6	$ 7.68	$ 6.16	$ 7.91
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	0.14%	0.06%	0.14%	0.06%
Expected dividend yield	2.10%	1.80%	2.10%	1.80%
Expected life	6 months	6 months	6 months	6 months
Expected volatility	21.00%	23.00%	21.00%	23.00%
Weighted average fair value	$ 6.43	$ 8	$ 6.43	$ 8

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended						9 Months Ended
	Oct. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Jul. 31, 2015	Feb. 28, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend paid per share		$ 0.17	$ 0.17	$ 0.17	$ 0.16	$ 0.16	$ 0.16
Aggregate dividend declared for the year								$ 9,200,000	$ 9,100,000
Cash dividends declared per common share		$ 0.17			$ 0.16			$ 0.51	$ 0.48
Increase in authorized to purchase of common stock under the stock repurchase program										$ 25,000,000	$ 25,000,000
Authorized to purchase of common stock under the stock repurchase program		$ 460,000,000						$ 460,000,000
Repurchase of common Stock		0.2			0.3			0.5	1.8
Cumulative aggregate cost of repurchase of common stock		$ 6,900,000			$ 11,600,000			$ 18,600,000	$ 66,600,000
Cumulative repurchase of common stock		14.9						14.9
Aggregate cost of repurchase of common stock								$ 420,900,000
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash dividends declared per common share	$ 0.17
Dividend payable date	Dec. 16, 2015
Dividend payable record date	Dec. 2, 2015

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Tax [Line Items]
Income tax expense	$ 1,295	$ 2,009	$ 5,321	$ 4,981
Effective income tax rate			34.80%	40.70%
Loss on liquidation of foreign subsidiary			$ 300
Income tax benefit from new interpretation of tax law	$ 700
U.S. State [Member]
Income Tax [Line Items]
Audit expense					$ 200

Operating Segment and Enterpris

Operating Segment and Enterprise Wide Reporting - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Research services revenues	$ 52,205	$ 50,622	$ 156,667	$ 153,737
Advisory services and events revenues	22,548	24,741	76,084	77,644
Total segment revenues	74,753	75,363	232,751	231,381
Segment expenses	27,440	28,900	86,810	88,634
Contribution margin (loss)	47,313	46,463	145,941	142,747
Selling, marketing, administrative and other expenses	(40,820)	(41,079)	(126,120)	(127,300)
Amortization of intangible assets	(224)	(530)	(669)	(1,605)
Reorganization (costs) credits	(928)	71	(4,433)	(1,817)
Other income and gains (losses) on investments	404	127	578	222
Income before income taxes	5,745	5,052	15,297	12,247
Products Segment [Member]
Segment Reporting Information [Line Items]
Research services revenues	52,205	50,622	156,667	153,737
Advisory services and events revenues	2,041	2,310	12,763	15,161
Total segment revenues	54,246	52,932	169,430	168,898
Segment expenses	7,918	8,298	27,799	28,543
Contribution margin (loss)	46,328	44,634	141,631	140,355
Research Segment [Member]
Segment Reporting Information [Line Items]
Advisory services and events revenues	9,804	10,925	31,454	37,573
Total segment revenues	9,804	10,925	31,454	37,573
Segment expenses	12,711	13,012	38,467	40,386
Contribution margin (loss)	(2,907)	(2,087)	(7,013)	(2,813)
Project Consulting [Member]
Segment Reporting Information [Line Items]
Advisory services and events revenues	10,703	11,506	31,867	24,910
Total segment revenues	10,703	11,506	31,867	24,910
Segment expenses	6,811	7,590	20,544	19,705
Contribution margin (loss)	$ 3,892	$ 3,916	$ 11,323	$ 5,205