Vestmark Advisory Solutions Inc. Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Vestmark Advisory Solutions Inc. acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,067 shares of the technology company’s stock, valued at approximately $506,000.

A number of other institutional investors also recently modified their holdings of CSGP. Barclays PLC boosted its stake in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. State Street Corp boosted its stake in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Point72 Asset Management L.P. bought a new position in CoStar Group during the third quarter worth $48,768,000. Finally, Raymond James Financial Inc. bought a new position in CoStar Group during the fourth quarter worth $45,993,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Performance

Shares of CSGP stock opened at $79.39 on Friday. The firm has a 50-day moving average of $74.73 and a 200-day moving average of $75.63. The company has a market cap of $32.56 billion, a P/E ratio of 226.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Needham & Company LLC cut their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Finally, William Blair assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.07.

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.