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

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reaffirmed by equities research analysts at William Blair in a note issued to investors on Wednesday,RTT News reports.

Other equities analysts also recently issued reports about the company. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Citigroup lowered their price objective on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $89.08.

CoStar Group Stock Up 1.3 %

Shares of CoStar Group stock traded up $0.99 on Wednesday, reaching $76.45. The company’s stock had a trading volume of 658,876 shares, compared to its average volume of 2,480,876. The company has a market capitalization of $31.34 billion, a price-to-earnings ratio of 173.42 and a beta of 0.87. The firm’s fifty day simple moving average is $73.79 and its two-hundred day simple moving average is $75.34. CoStar Group 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 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. Equities analysts anticipate that CoStar Group will post 0.52 earnings per share for the current year.

CoStar Group announced that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new stake in CoStar Group during the fourth quarter worth approximately $5,562,000. Vise Technologies Inc. bought a new stake in CoStar Group during the fourth quarter worth approximately $205,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CoStar Group by 26.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,647,849 shares of the technology company’s stock worth $189,560,000 after acquiring an additional 551,594 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in CoStar Group during the fourth quarter worth approximately $2,402,000. Finally, Woodline Partners LP bought a new stake in CoStar Group during the fourth quarter worth approximately $1,763,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Company 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.