Zurcher Kantonalbank Zurich Cantonalbank Buys 2,578 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,140 shares of the technology company’s stock after acquiring an additional 2,578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CoStar Group were worth $12,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. raised its position in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. State Street Corp raised its position in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. Amundi increased its position in shares of CoStar Group by 30.1% in the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after acquiring an additional 650,454 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of CoStar Group in the third quarter valued at about $48,768,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. William Blair initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating for the company. Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Two 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’s stock. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Price Performance

CoStar Group stock opened at $76.86 on Thursday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 219.60 and a beta of 0.93. The company has a fifty day simple moving average of $75.10 and a 200-day simple moving average of $75.67. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company 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%. On average, equities 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 approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign 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.