CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 1.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 180,140 shares of the technology company’s stock after buying an additional 2,578 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CoStar Group were worth $12,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSGP. ORG Partners LLC grew its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. acquired a new position in CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the 4th quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after purchasing an additional 513 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC dropped their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods decreased their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

NASDAQ:CSGP opened at $76.86 on Thursday. The firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 219.60 and a beta of 0.93. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock’s 50 day moving average price is $75.10 and its two-hundred day moving average price is $75.67.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management 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.