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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2019
Equity [Abstract] |
Components of Stockholders' Equity | The components of stockholders’ equity are as follows (in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
| Common Stock |  |  | Additional |  |  |  |  |  |  | Treasury Stock |  |  | Other |  |  |  |  |
| Number of |  |  | $0.01 Par |  |  | Paid-in |  |  | Retained |  |  | Number of |  |  |  |  |  |  | Comprehensive |  |  | Total |
| Shares |  |  | Value |  |  | Capital |  |  | Earnings |  |  | Shares |  |  | Cost |  |  | Income (Loss) |  |  | Equity |
Balance at January 1, 2019 |  | 22,951 |  |  | $ | 230 |  |  | $ | 200,696 |  |  | $ | 127,717 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (5,154 | ) |  | $ | 151,600 |
Issuance of common stock under stock plans |  | 99 |  |  |  | 1 |  |  |  | 3,274 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,275 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 2,685 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,685 |
Net loss |  | — |  |  |  | — |  |  |  | — |  |  |  | (13,316 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13,316 | )
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (430 | ) |  |  | (430 | )
Balance at March 31, 2019 |  | 23,050 |  |  | $ | 231 |  |  | $ | 206,655 |  |  | $ | 114,401 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (5,584 | ) |  | $ | 143,814 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
| Common Stock |  |  | Additional |  |  |  |  |  |  | Treasury Stock |  |  | Other |  |  |  |  |
| Number of |  |  | $0.01 Par |  |  | Paid-in |  |  | Retained |  |  | Number of |  |  |  |  |  |  | Comprehensive |  |  | Total |
| Shares |  |  | Value |  |  | Capital |  |  | Earnings |  |  | Shares |  |  | Cost |  |  | Income (Loss) |  |  | Equity |
Balance at January 1, 2018 |  | 22,432 |  |  | $ | 224 |  |  | $ | 181,910 |  |  | $ | 123,010 |  |  |  | 4,391 |  |  | $ | (161,943 | ) |  | $ | (2,012 | ) |  | $ | 141,189 |
Issuance of common stock under stock plans |  | 82 |  |  |  | 1 |  |  |  | 2,462 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,463 |
Cumulative effect adjustment due to adoption of new accounting pronouncements |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,829 |  |  |  | — |  |  |  | — |  |  |  | (26 | ) |  |  | 3,803 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 1,963 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,963 |
Repurchases of common stock |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 106 |  |  |  | (4,367 | ) |  |  | — |  |  |  | (4,367 | )
Dividends paid on common shares |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,611 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,611 | )
Net loss |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,733 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,733 | )
Net change in marketable investments, net of tax |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (115 | ) |  |  | (115 | )
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,703 |  |  |  | 1,703 |
Balance at March 31, 2018 |  | 22,514 |  |  | $ | 225 |  |  | $ | 186,335 |  |  | $ | 121,495 |  |  |  | 4,497 |  |  | $ | (166,310 | ) |  | $ | (450 | ) |  | $ | 141,295 |
Schedule of Restricted Stock Unit Activity | Restricted stock unit activity for the three months ended March 31, 2019 is presented below (in thousands, except per share data):
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |
|  | Number of |  |  | Grant Date |
|  | Shares |  |  | Fair Value |
Unvested at December 31, 2018 |  |  | 497 |  |  | $ | 40.89 |
Granted |  |  | 162 |  |  |  | 44.88 |
Vested |  |  | (11 | ) |  |  | 40.38 |
Forfeited |  |  | (11 | ) |  |  | 41.94 |
Unvested at March 31, 2019 |  |  | 637 |  |  | $ | 41.89 |
Schedule of Stock Option Activity | Stock option activity for the three months ended March 31, 2019 is presented below (in thousands, except per share data and contractual term):
|  |  |  |  |  | Weighted - |  |  | Weighted - |  |  |  |  |
|  |  |  |  |  | Average |  |  | Average |  |  |  |  |
|  |  |  |  |  | Exercise |  |  | Remaining |  |  | Aggregate |
|  | Number |  |  | Price Per |  |  | Contractual |  |  | Intrinsic |
|  | of Shares |  |  | Share |  |  | Term (in years) |  |  | Value |
Outstanding at December 31, 2018 |  |  | 583 |  |  | $ | 35.27 |  |  |  |  |  |  |  |  |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  |  | (67 | ) |  |  | 34.99 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (1 | ) |  |  | 33.16 |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2019 |  |  | 515 |  |  | $ | 35.31 |  |  |  | 4.72 |  |  | $ | 6,721 |
Exercisable at March 31, 2019 |  |  | 438 |  |  | $ | 35.48 |  |  |  | 4.38 |  |  | $ | 5,639 |
Vested and expected to vest at March 31, 2019 |  |  | 515 |  |  | $ | 35.31 |  |  |  | 4.72 |  |  | $ | 6,721 |
Summary of Stock-Based Compensation Recorded in Expense Categories | Stock-based compensation was recorded in the following expense categories (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Cost of services and fulfillment |  | $ | 1,463 |  |  | $ | 1,020 |
Selling and marketing |  |  | 440 |  |  |  | 244 |
General and administrative |  |  | 782 |  |  |  | 699 |
Total |  | $ | 2,685 |  |  | $ | 1,963 |
Shares Subject to Employee Stock Purchase Plan Valuation Assumptions | Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions:
|  | Three Months Ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Average risk-free interest rate |  |  | 2.51 | % |  |  | 1.92 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 2.0 | %
Expected life |  | 0.5 Years |  |  | 0.5 Years |
Expected volatility |  |  | 34 | % |  |  | 22 | %
Weighted average fair value |  | $ | 12.50 |  |  | $ | 8.49 |

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