Gateway Investment Advisers LLC Lowers Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Gateway Investment Advisers LLC lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,385 shares of the technology company’s stock after selling 10,140 shares during the period. Gateway Investment Advisers LLC’s holdings in CoStar Group were worth $2,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of CoStar Group in the 4th quarter worth about $330,000. SageView Advisory Group LLC bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $394,000. ICA Group Wealth Management LLC purchased a new position in CoStar Group in the 4th quarter worth approximately $94,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in CoStar Group by 597.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 90,710 shares of the technology company’s stock valued at $7,927,000 after acquiring an additional 77,710 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in CoStar Group by 14.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 94,310 shares of the technology company’s stock valued at $8,242,000 after purchasing an additional 11,858 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 1.9 %

Shares of CoStar Group stock opened at $76.27 on Friday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a market capitalization of $31.14 billion, a P/E ratio of 104.48 and a beta of 0.81. The company has a fifty day moving average of $75.85 and a 200 day moving average of $80.17.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CSGP has been the subject of several recent analyst reports. Bank of America decreased their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group dropped their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.