CoStar Group’s (CSGP) Outperform Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research note published on Wednesday morning,RTT News reports.

Several other research analysts have also issued reports on CSGP. JMP Securities reissued a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. BMO Capital Markets cut their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group Trading Down 2.0 %

NASDAQ:CSGP opened at $76.79 on Wednesday. The firm’s fifty day moving average is $73.83 and its 200-day moving average is $75.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market cap of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Equities analysts expect that CoStar Group will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Institutional Trading of CoStar Group

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. Polen Capital Management LLC purchased a new stake in CoStar Group during the fourth quarter worth about $465,134,000. Norges Bank purchased a new stake in CoStar Group during the fourth quarter worth about $390,755,000. Capital International Investors increased its holdings in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after buying an additional 4,345,267 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in CoStar Group by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock worth $459,314,000 after buying an additional 1,267,263 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company’s stock worth $80,847,000 after buying an additional 1,079,815 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

About CoStar Group

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.