Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,043 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,170 shares of the technology company’s stock after selling 2,043 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CoStar Group were worth $6,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in CoStar Group during the 4th quarter worth approximately $25,000. ORG Partners LLC increased its holdings in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new stake in CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group during the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after acquiring an additional 513 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $78.46 on Friday. The company has a fifty day moving average of $76.15 and a 200-day moving average of $75.74. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. Equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS 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 repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’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 directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSGP has been the subject of a number of research reports. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $88.07.

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.