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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2019
Equity [Abstract] |
Components of Stockholders' Equity | The components of stockholders’ equity are as follows (in thousands):
| Common Stock |  |  |  |  |  |  |  |  |  |  | Treasury Stock |  |  | Accumulated |  |  |  |  |
| Number |  |  | $0.01 |  |  | Additional |  |  |  |  |  |  | Number |  |  |  |  |  |  | Other |  |  |  |  |
| of |  |  | Par |  |  | Paid-in |  |  | Retained |  |  | 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, net |  | 138 |  |  |  | 1 |  |  |  | 4,149 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,150 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 5,533 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,533 |
Net loss |  | — |  |  |  | — |  |  |  | — |  |  |  | (11,761 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11,761 | )
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 164 |  |  |  | 164 |
Balance at June 30, 2019 |  | 23,089 |  |  | $ | 231 |  |  | $ | 210,378 |  |  | $ | 115,956 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (4,990 | ) |  | $ | 149,686 |
| Common Stock |  |  |  |  |  |  |  |  |  |  | Treasury Stock |  |  | Accumulated |  |  |  |  |
| Number |  |  | $0.01 |  |  | Additional |  |  |  |  |  |  | Number |  |  |  |  |  |  | Other |  |  |  |  |
| of |  |  | Par |  |  | Paid-in |  |  | Retained |  |  | 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, net |  | 132 |  |  |  | 2 |  |  |  | 3,573 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,575 |
Cumulative effect adjustment due to adoption of new accounting pronouncements |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,829 |  |  |  | — |  |  |  | — |  |  |  | (26 | ) |  |  | 3,803 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 4,071 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,071 |
Repurchases of common stock |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 233 |  |  |  | (9,642 | ) |  |  | — |  |  |  | (9,642 | )
Dividends paid on common shares |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,196 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,196 | )
Net income |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,055 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,055 |
Net change in marketable investments, net of tax |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (53 | ) |  |  | (53 | )
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,691 | ) |  |  | (1,691 | )
Balance at June 30, 2018 |  | 22,564 |  |  | $ | 226 |  |  | $ | 189,554 |  |  | $ | 125,698 |  |  |  | 4,624 |  |  | $ | (171,585 | ) |  | $ | (3,782 | ) |  | $ | 140,111 |
| Common Stock |  |  |  |  |  |  |  |  |  |  | Treasury Stock |  |  | Accumulated |  |  |  |  |
| Number |  |  | $0.01 |  |  | Additional |  |  |  |  |  |  | Number |  |  |  |  |  |  | Other |  |  |  |  |
| of |  |  | Par |  |  | Paid-in |  |  | Retained |  |  | of |  |  |  |  |  |  | Comprehensive |  |  | Total |
| Shares |  |  | Value |  |  | Capital |  |  | Earnings |  |  | Shares |  |  | Cost |  |  | Income (Loss) |  |  | Equity |
Balance at April 1, 2019 |  | 23,050 |  |  | $ | 231 |  |  | $ | 206,655 |  |  | $ | 114,401 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (5,584 | ) |  | $ | 143,814 |
Issuance of common stock under stock plans, net |  | 39 |  |  |  | — |  |  |  | 875 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 875 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 2,848 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,848 |
Net income |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,555 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,555 |
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 594 |  |  |  | 594 |
Balance at June 30, 2019 |  | 23,089 |  |  | $ | 231 |  |  | $ | 210,378 |  |  | $ | 115,956 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (4,990 | ) |  | $ | 149,686 |
| Common Stock |  |  |  |  |  |  |  |  |  |  | Treasury Stock |  |  | Accumulated |  |  |  |  |
| Number |  |  | $0.01 |  |  | Additional |  |  |  |  |  |  | Number |  |  |  |  |  |  | Other |  |  |  |  |
| of |  |  | Par |  |  | Paid-in |  |  | Retained |  |  | of |  |  |  |  |  |  | Comprehensive |  |  | Total |
| Shares |  |  | Value |  |  | Capital |  |  | Earnings |  |  | Shares |  |  | Cost |  |  | Income (Loss) |  |  | Equity |
Balance at April 1, 2018 |  | 22,514 |  |  | $ | 225 |  |  | $ | 186,335 |  |  | $ | 121,495 |  |  |  | 4,497 |  |  | $ | (166,310 | ) |  | $ | (450 | ) |  | $ | 141,295 |
Issuance of common stock under stock plans, net |  | 50 |  |  |  | 1 |  |  |  | 1,111 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,112 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 2,108 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,108 |
Repurchases of common stock |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 127 |  |  |  | (5,275 | ) |  |  | — |  |  |  | (5,275 | )
Dividends paid on common shares |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,585 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,585 | )
Net income |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,788 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,788 |
Net change in marketable investments, net of tax |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 62 |  |  |  | 62 |
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,394 | ) |  |  | (3,394 | )
Balance at June 30, 2018 |  | 22,564 |  |  | $ | 226 |  |  | $ | 189,554 |  |  | $ | 125,698 |  |  |  | 4,624 |  |  | $ | (171,585 | ) |  | $ | (3,782 | ) |  | $ | 140,111 |
Schedule of Restricted Stock Unit Activity | Restricted stock unit activity for the six months ended June 30, 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 |  |  | 190 |  |  |  | 45.14 |
Vested |  |  | (22 | ) |  |  | 38.89 |
Forfeited |  |  | (39 | ) |  |  | 43.10 |
Unvested at June 30, 2019 |  |  | 626 |  |  | $ | 42.11 |
Schedule of Stock Option Activity | Stock option activity for the six months ended June 30, 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 |  |  | (95 | ) |  |  | 34.31 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (18 | ) |  |  | 35.46 |  |  |  |  |  |  |  |  |
Outstanding at June 30, 2019 |  |  | 470 |  |  | $ | 35.46 |  |  |  | 4.62 |  |  | $ | 5,433 |
Exercisable at June 30, 2019 |  |  | 404 |  |  | $ | 35.67 |  |  |  | 4.34 |  |  | $ | 4,589 |
Vested and expected to vest at June 30, 2019 |  |  | 470 |  |  | $ | 35.46 |  |  |  | 4.62 |  |  | $ | 5,433 |
Summary of Stock-Based Compensation Recorded in Expense Categories | Stock-based compensation was recorded in the following expense categories (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Cost of services and fulfillment |  | $ | 1,567 |  |  | $ | 1,108 |  |  | $ | 3,030 |  |  | $ | 2,127 |
Selling and marketing |  |  | 485 |  |  |  | 246 |  |  |  | 925 |  |  |  | 491 |
General and administrative |  |  | 796 |  |  |  | 754 |  |  |  | 1,578 |  |  |  | 1,453 |
Total |  | $ | 2,848 |  |  | $ | 2,108 |  |  | $ | 5,533 |  |  | $ | 4,071 |
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 |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Average risk-free interest rate |  |  | 2.51 | % |  |  | 1.92 | % |  |  | 2.51 | % |  |  | 1.62 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 2.0 | % |  |  | 0.0 | % |  |  | 2.0 | %
Expected life |  | 0.5 Years |  |  | 0.5 Years |  |  | 0.5 Years |  |  | 0.5 Years |
Expected volatility |  |  | 34 | % |  |  | 22 | % |  |  | 34 | % |  |  | 22 | %
Weighted average fair value |  | $ | 12.50 |  |  | $ | 8.49 |  |  | $ | 12.50 |  |  | $ | 8.50 |

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