CoStar Group, Inc. (NASDAQ:CSGP) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 205.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,632 shares of the technology company's stock after buying an additional 14,559 shares during the period. Intech Investment Management LLC's holdings in CoStar Group were worth $1,549,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CSGP. State Street Corp grew its position in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock valued at $1,286,987,000 after acquiring an additional 722,153 shares during the period. Geode Capital Management LLC lifted its stake in shares of CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company's stock valued at $850,656,000 after purchasing an additional 236,407 shares in the last quarter. Polen Capital Management LLC purchased a new stake in shares of CoStar Group during the 4th quarter worth about $465,134,000. Charles Schwab Investment Management Inc. grew its holdings in shares of CoStar Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company's stock worth $201,758,000 after purchasing an additional 133,876 shares during the period. Finally, Amundi increased its position in CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company's stock worth $200,504,000 after purchasing an additional 650,454 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

CSGP has been the subject of several research reports. Needham & Company LLC decreased their price objective on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. William Blair initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating on the stock. Finally, JMP Securities reiterated a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction 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 sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was 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 available at this link. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Up 0.2 %

CSGP traded up $0.14 during trading on Wednesday, hitting $80.37. The company had a trading volume of 1,938,302 shares, compared to its average volume of 2,538,382. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market cap of $32.96 billion, a PE ratio of 229.63 and a beta of 0.93. The business has a 50-day moving average of $76.58 and a 200-day moving average of $75.77.

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

CoStar Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are 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.