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

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

CSGP has been the topic of several other reports. Stephens restated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research report on Friday, January 10th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $89.08.

CoStar Group Price Performance

Shares of CoStar Group stock traded up $0.99 during trading on Wednesday, hitting $76.45. 658,876 shares of the stock traded hands, compared to its average volume of 2,480,876. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of 173.42 and a beta of 0.87. The firm’s fifty day moving average is $73.79 and its 200-day moving average is $75.34. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Research analysts expect that CoStar Group will post 0.52 EPS for the current fiscal year.

CoStar Group declared that its board has approved a share 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. bought a new position in CoStar Group during the 4th quarter valued at approximately $25,000. ORG Partners LLC increased its position in CoStar Group by 534.8% during 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in CoStar Group during the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group during the 4th quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after buying an additional 402 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

About CoStar Group

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.