Bank of Montreal Can Purchases 184,682 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Bank of Montreal Can grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 41.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,409 shares of the technology company’s stock after buying an additional 184,682 shares during the period. Bank of Montreal Can’s holdings in CoStar Group were worth $46,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Magnetar Financial LLC acquired a new stake in CoStar Group in the 2nd quarter worth about $4,552,000. Public Sector Pension Investment Board increased its position in shares of CoStar Group by 17.6% in the second quarter. Public Sector Pension Investment Board now owns 56,799 shares of the technology company’s stock worth $4,211,000 after purchasing an additional 8,516 shares during the period. Sei Investments Co. lifted its position in CoStar Group by 2.3% during the second quarter. Sei Investments Co. now owns 1,233,592 shares of the technology company’s stock worth $91,458,000 after purchasing an additional 27,656 shares during the period. Pacer Advisors Inc. lifted its position in CoStar Group by 3.5% during the second quarter. Pacer Advisors Inc. now owns 48,675 shares of the technology company’s stock worth $3,609,000 after purchasing an additional 1,633 shares during the period. Finally, Bridges Investment Management Inc. bought a new position in CoStar Group in the 2nd quarter valued at about $419,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CSGP. Robert W. Baird cut their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Bank of America lowered their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods lowered their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, 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 $73.70 on Thursday. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 100.96 and a beta of 0.81. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The stock has a fifty day simple moving average of $76.34 and a 200 day simple moving average of $81.75. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

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