CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Candriam S.C.A.

Candriam S.C.A. raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 12.3% in the 4th quarter, Holdings Channel reports. The fund owned 18,818 shares of the technology company’s stock after acquiring an additional 2,054 shares during the period. Candriam S.C.A.’s holdings in CoStar Group were worth $1,347,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. State Street Corp lifted its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of CoStar Group in the third quarter valued at approximately $48,768,000. Finally, Raymond James Financial Inc. acquired a new position in CoStar Group during the fourth quarter worth $45,993,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 3.3 %

CSGP opened at $79.39 on Monday. The firm has a market cap of $32.56 billion, a P/E ratio of 226.83 and a beta of 0.93. The business’s fifty day simple moving average is $74.73 and its 200 day simple moving average is $75.63. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CSGP shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

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.