LGT Fund Management Co Ltd. Has $1.75 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

LGT Fund Management Co Ltd. increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 38.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,466 shares of the technology company’s stock after purchasing an additional 6,814 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in CoStar Group were worth $1,752,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of CoStar Group by 60.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock valued at $1,281,000 after buying an additional 6,386 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of CoStar Group by 5.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,593 shares of the technology company’s stock valued at $1,063,000 after acquiring an additional 781 shares during the period. Van ECK Associates Corp increased its stake in shares of CoStar Group by 1.4% during the 3rd quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock worth $5,268,000 after purchasing an additional 993 shares during the last quarter. Cortland Associates Inc. MO bought a new stake in shares of CoStar Group in the 3rd quarter valued at about $14,535,000. Finally, National Pension Service grew its holdings in CoStar Group by 0.7% during the third quarter. National Pension Service now owns 1,020,943 shares of the technology company’s stock worth $77,020,000 after purchasing an additional 6,826 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several research reports. William Blair started coverage on CoStar Group in a report on Friday. They set a “market perform” rating for the company. Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Needham & Company LLC lowered their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group started coverage on shares of CoStar Group in a research report on Friday. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Two 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 presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Down 1.1 %

Shares of NASDAQ CSGP opened at $75.39 on Tuesday. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 215.40 and a beta of 0.87. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $74.36 and its 200-day moving average price is $75.56. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38.

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

CoStar Group declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.