Verdence Capital Advisors LLC Acquires 238 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Verdence Capital Advisors LLC boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,318 shares of the technology company’s stock after buying an additional 238 shares during the quarter. Verdence Capital Advisors LLC’s holdings in CoStar Group were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in shares of CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after buying an additional 761,383 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of CoStar Group by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after buying an additional 662,592 shares in the last quarter. FMR LLC boosted its holdings in CoStar Group by 83.2% in the 3rd quarter. FMR LLC now owns 1,405,414 shares of the technology company’s stock worth $108,062,000 after buying an additional 638,241 shares during the period. Massachusetts Financial Services Co. MA increased its stake in CoStar Group by 5.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock worth $920,146,000 after buying an additional 596,595 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of CoStar Group by 24.7% in the third quarter. Envestnet Asset Management Inc. now owns 1,775,814 shares of the technology company’s stock valued at $136,542,000 after acquiring an additional 352,169 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of CSGP stock opened at $85.31 on Tuesday. 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 12.01 and a current ratio of 12.01. The firm has a market capitalization of $34.84 billion, a price-to-earnings ratio of 92.73, a PEG ratio of 9.69 and a beta of 0.84. The stock’s 50-day simple moving average is $89.15 and its 200-day simple moving average is $84.56.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSGP. BMO Capital Markets boosted their price target on CoStar Group from $79.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday. The Goldman Sachs Group raised their price target on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Citigroup upped their price objective on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a report on Friday, April 12th. Finally, BTIG Research assumed coverage on shares of CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

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.