Azimuth Capital Investment Management LLC Decreases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Azimuth Capital Investment Management LLC reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,041 shares of the technology company's stock after selling 4,023 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in CoStar Group were worth $7,591,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. IHT Wealth Management LLC increased its position in CoStar Group by 16.1% in the third quarter. IHT Wealth Management LLC now owns 4,074 shares of the technology company's stock worth $307,000 after buying an additional 565 shares during the last quarter. Quantinno Capital Management LP raised its holdings in CoStar Group by 70.6% during the 3rd quarter. Quantinno Capital Management LP now owns 14,926 shares of the technology company's stock valued at $1,126,000 after acquiring an additional 6,175 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of CoStar Group during the third quarter worth $621,000. National Bank of Canada FI raised its stake in shares of CoStar Group by 79.7% during the 3rd quarter. National Bank of Canada FI now owns 293,148 shares of the technology company's stock valued at $22,115,000 after purchasing an additional 130,045 shares during the period. Finally, MML Investors Services LLC raised its stake in shares of CoStar Group by 1.2% during the 3rd quarter. MML Investors Services LLC now owns 86,009 shares of the technology company's stock valued at $6,488,000 after purchasing an additional 1,021 shares during the period. Institutional investors own 96.60% of the company's stock.

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Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Stephens reissued an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lowered their price target on CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Tuesday, January 28th. JMP Securities restated a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Trading Up 2.0 %

Shares of CSGP traded up $1.57 during mid-day trading on Monday, hitting $78.96. 516,265 shares of the company's stock traded hands, compared to its average volume of 2,730,920. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $32.38 billion, a P/E ratio of 225.60 and a beta of 0.88. The business's 50-day moving average price is $77.23 and its 200-day moving average price is $75.77. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

CoStar Group 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.