CoStar Group, Inc. (NASDAQ:CSGP) is Vulcan Value Partners LLC’s 7th Largest Position

Vulcan Value Partners LLC lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 90.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,138,987 shares of the technology company’s stock after buying an additional 1,961,917 shares during the period. CoStar Group makes up 4.6% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 7th largest holding. Vulcan Value Partners LLC’s holdings in CoStar Group were worth $306,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CSGP. Gilbert & Cook Inc. increased its position in CoStar Group by 14.3% during the fourth quarter. Gilbert & Cook Inc. now owns 14,571 shares of the technology company’s stock worth $1,273,000 after buying an additional 1,824 shares during the period. Accretive Wealth Partners LLC increased its holdings in shares of CoStar Group by 2.1% in the 4th quarter. Accretive Wealth Partners LLC now owns 9,398 shares of the technology company’s stock valued at $821,000 after acquiring an additional 192 shares during the period. Stifel Financial Corp raised its position in CoStar Group by 3.6% in the 4th quarter. Stifel Financial Corp now owns 245,025 shares of the technology company’s stock valued at $21,413,000 after purchasing an additional 8,517 shares during the last quarter. Fiduciary Trust Co purchased a new stake in CoStar Group in the 4th quarter valued at $222,000. Finally, Treasurer of the State of North Carolina boosted its stake in CoStar Group by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 184,524 shares of the technology company’s stock worth $16,126,000 after purchasing an additional 1,760 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. The Goldman Sachs Group decreased their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price target on shares of CoStar Group in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $75.01 on Friday. The firm’s fifty day simple moving average is $76.29 and its 200-day simple moving average is $81.57. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.74 billion, a PE ratio of 102.75 and a beta of 0.81. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

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.