Verdence Capital Advisors LLC Buys 2,989 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Verdence Capital Advisors LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,477 shares of the technology company's stock after buying an additional 2,989 shares during the quarter. Verdence Capital Advisors LLC's holdings in CoStar Group were worth $2,019,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. FWG Holdings LLC raised its stake in CoStar Group by 18.1% during the first quarter. FWG Holdings LLC now owns 7,593 shares of the technology company's stock worth $628,000 after acquiring an additional 1,162 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after acquiring an additional 235 shares in the last quarter. Larson Financial Group LLC raised its stake in CoStar Group by 8,089.3% during the first quarter. Larson Financial Group LLC now owns 2,293 shares of the technology company's stock worth $182,000 after acquiring an additional 2,265 shares in the last quarter. Sage Mountain Advisors LLC acquired a new position in CoStar Group during the first quarter worth $324,000. Finally, Wealthfront Advisers LLC raised its stake in CoStar Group by 41.6% during the first quarter. Wealthfront Advisers LLC now owns 49,842 shares of the technology company's stock worth $3,949,000 after acquiring an additional 14,638 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

CoStar Group stock traded down $0.25 during mid-day trading on Friday, reaching $84.70. 2,046,790 shares of the company's stock were exchanged, compared to its average volume of 2,902,368. The business's fifty day simple moving average is $79.40 and its 200 day simple moving average is $77.62. The firm has a market capitalization of $35.73 billion, a PE ratio of 292.07, a P/E/G ratio of 4.27 and a beta of 0.89. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $86.45. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. JMP Securities restated a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Bank of America initiated coverage on CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 target price on the stock in a research note on Monday, June 16th. Needham & Company LLC boosted their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.46.

CoStar Group 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.