Candriam S.C.A. Raises Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Candriam S.C.A. raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,818 shares of the technology company’s stock after purchasing an additional 2,054 shares during the quarter. Candriam S.C.A.’s holdings in CoStar Group were worth $1,347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSGP. Assetmark Inc. raised its holdings in shares of CoStar Group by 24.1% in the 3rd quarter. Assetmark Inc. now owns 68,659 shares of the technology company’s stock valued at $5,180,000 after buying an additional 13,320 shares during the period. Kampmann Melissa S. boosted its stake in shares of CoStar Group by 1.5% in the third quarter. Kampmann Melissa S. now owns 23,415 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 350 shares during the period. TimesSquare Capital Management LLC boosted its position in CoStar Group by 6.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 734,366 shares of the technology company’s stock valued at $55,401,000 after buying an additional 44,405 shares during the period. YCG LLC increased its position in shares of CoStar Group by 1.5% during the third quarter. YCG LLC now owns 451,973 shares of the technology company’s stock worth $34,097,000 after acquiring an additional 6,764 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in CoStar Group in the third quarter valued at $4,363,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the topic of several recent research reports. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Up 3.3 %

CSGP opened at $79.39 on Monday. 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, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The business’s 50 day moving average is $74.73 and its two-hundred day moving average is $75.63. The firm has a market cap of $32.56 billion, a price-to-earnings ratio of 226.83 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business 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%. On average, research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

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.