Raymond James & Associates Has $40.04 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Raymond James & Associates cut its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,791 shares of the technology company's stock after selling 97,321 shares during the quarter. Raymond James & Associates owned approximately 0.13% of CoStar Group worth $40,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock valued at $6,322,615,000 after buying an additional 541,700 shares in the last quarter. Janus Henderson Group PLC increased its position in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company's stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Bank of New York Mellon Corp raised its stake in CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company's stock worth $453,534,000 after purchasing an additional 124,761 shares in the last quarter. Blair William & Co. IL boosted its holdings in CoStar Group by 0.6% in the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company's stock valued at $426,951,000 after purchasing an additional 26,800 shares during the period. Finally, Vulcan Value Partners LLC grew its position in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock worth $306,831,000 after purchasing an additional 1,961,917 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Down 5.3 %

Shares of CoStar Group stock traded down $4.05 on Wednesday, hitting $72.82. The stock had a trading volume of 14,630,862 shares, compared to its average volume of 2,312,678. The stock has a 50 day moving average of $76.47 and a 200 day moving average of $79.24. 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, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The firm has a market capitalization of $29.84 billion, a P/E ratio of 132.08 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Sell-side analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price target 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. StockNews.com upgraded shares of CoStar Group from a "sell" rating to a "hold" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, JMP Securities reiterated a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.15.

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.