CoStar Group’s (CSGP) “Outperform” Rating Reiterated at William Blair

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating restated by research analysts at William Blair in a research note issued on Wednesday,RTT News reports.

Several other research analysts have also recently commented on the stock. Citigroup lowered their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday. BMO Capital Markets decreased their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group Stock Down 1.1 %

Shares of NASDAQ CSGP opened at $78.35 on Wednesday. The stock has a market cap of $32.12 billion, a P/E ratio of 223.84 and a beta of 0.87. The business’s fifty day simple moving average is $73.82 and its 200-day simple moving average is $75.37. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly 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. CoStar Group had a return on equity of 3.13% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, equities analysts predict that CoStar Group will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Creative Planning grew its holdings in shares of CoStar Group by 27.9% during the third quarter. Creative Planning now owns 31,828 shares of the technology company’s stock worth $2,401,000 after buying an additional 6,939 shares during the last quarter. Blue Trust Inc. lifted its position in CoStar Group by 175.8% during the 3rd quarter. Blue Trust Inc. now owns 2,979 shares of the technology company’s stock worth $221,000 after acquiring an additional 1,899 shares during the period. Allspring Global Investments Holdings LLC lifted its position in CoStar Group by 25.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 451,560 shares of the technology company’s stock worth $34,066,000 after acquiring an additional 92,119 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of CoStar Group by 25.4% in the third quarter. Sequoia Financial Advisors LLC now owns 7,435 shares of the technology company’s stock valued at $561,000 after purchasing an additional 1,507 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.