CoStar Group’s (CSGP) Outperform Rating Reaffirmed at William Blair

William Blair reaffirmed their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research report report published on Wednesday morning,RTT News reports.

CSGP has been the subject of a number of other research reports. Wells Fargo & Company cut their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.79 on Wednesday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a 50-day moving average price of $73.83 and a two-hundred day moving average price of $75.39.

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

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale 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

Large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the third quarter worth approximately $40,000. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC raised its stake in shares of CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CoStar Group by 16.2% during the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after acquiring an additional 14,468 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of CoStar Group during the third quarter worth approximately $621,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.