Public Sector Pension Investment Board Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Public Sector Pension Investment Board boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,799 shares of the technology company’s stock after purchasing an additional 8,516 shares during the quarter. Public Sector Pension Investment Board’s holdings in CoStar Group were worth $4,211,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CSGP. Janus Henderson Group PLC lifted its position in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after buying an additional 1,773,564 shares in the last quarter. Capital International Investors raised its stake in CoStar Group by 32.2% in the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after purchasing an additional 982,837 shares during the last quarter. Capital Research Global Investors lifted its holdings in CoStar Group by 49.2% in the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after purchasing an additional 796,386 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in CoStar Group during the 2nd quarter worth $46,692,000. Finally, Vanguard Group Inc. grew its holdings in shares of CoStar Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after buying an additional 541,700 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Up 1.4 %

Shares of CSGP stock opened at $74.73 on Friday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a 50 day moving average price of $76.29 and a 200 day moving average price of $81.70. The stock has a market capitalization of $30.52 billion, a P/E ratio of 102.37 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27.

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, topping analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities research analysts predict that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CSGP. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Needham & Company LLC restated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research report on Tuesday, September 17th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research report on Tuesday, September 10th. One 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 stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

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.