Public Employees Retirement Association of Colorado Decreases Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,242 shares of the technology company’s stock after selling 1,453 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CoStar Group were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Concurrent Investment Advisors LLC lifted its holdings in CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after buying an additional 112 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of CoStar Group by 9.2% during the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after purchasing an additional 113 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after purchasing an additional 135 shares in the last quarter. Redmond Asset Management LLC increased its position in shares of CoStar Group by 0.9% during the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after purchasing an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its position in shares of CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after purchasing an additional 172 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $77.37 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The firm has a 50-day moving average of $76.32 and a two-hundred day moving average of $81.88. The stock has a market cap of $31.59 billion, a P/E ratio of 105.99, a PEG ratio of 11.55 and a beta of 0.81. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS. On average, research analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CSGP has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. Robert W. Baird dropped their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a research report on Tuesday, September 10th. The Goldman Sachs Group dropped their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods dropped their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.38.

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.