Teachers Retirement System of The State of Kentucky Reduces Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,419 shares of the technology company’s stock after selling 896 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CoStar Group were worth $11,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CSGP. Bank of Nova Scotia lifted its position in shares of CoStar Group by 40.5% during the fourth quarter. Bank of Nova Scotia now owns 45,907 shares of the technology company’s stock worth $4,012,000 after purchasing an additional 13,233 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of CoStar Group by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 650,178 shares of the technology company’s stock worth $56,819,000 after purchasing an additional 14,025 shares during the last quarter. KBC Group NV lifted its position in shares of CoStar Group by 31.7% during the fourth quarter. KBC Group NV now owns 127,556 shares of the technology company’s stock worth $11,148,000 after purchasing an additional 30,733 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of CoStar Group by 4.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 324,918 shares of the technology company’s stock worth $28,395,000 after purchasing an additional 13,426 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of CoStar Group by 17.2% during the fourth quarter. Rafferty Asset Management LLC now owns 178,321 shares of the technology company’s stock worth $15,583,000 after purchasing an additional 26,132 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSGP. Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird decreased their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.65 on Wednesday. The company has a market capitalization of $30.59 billion, a PE ratio of 102.26 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. The company has a 50-day simple moving average of $76.29 and a two-hundred day simple moving average of $81.25. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38.

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

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.