Federated Hermes Inc. Sells 127,867 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Federated Hermes Inc. trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,114,971 shares of the technology company's stock after selling 127,867 shares during the period. Federated Hermes Inc. owned 0.52% of CoStar Group worth $184,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. grew its stake in CoStar Group by 3.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 59,970 shares of the technology company's stock valued at $5,241,000 after acquiring an additional 1,957 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CoStar Group by 74.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,728 shares of the technology company's stock worth $10,725,000 after purchasing an additional 52,563 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of CoStar Group during the 4th quarter worth about $766,000. Wealth Alliance boosted its stake in shares of CoStar Group by 3.0% during the 4th quarter. Wealth Alliance now owns 4,539 shares of the technology company's stock worth $397,000 after purchasing an additional 132 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of CoStar Group by 3.1% during the 4th quarter. Vontobel Holding Ltd. now owns 23,097 shares of the technology company's stock worth $2,018,000 after purchasing an additional 691 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Down 1.5 %

Shares of CSGP traded down $1.28 during mid-day trading on Thursday, reaching $84.18. 1,267,901 shares of the stock traded hands, compared to its average volume of 2,127,412. The firm has a market cap of $34.38 billion, a price-to-earnings ratio of 91.50, a P/E/G ratio of 9.92 and a beta of 0.84. The stock has a fifty day simple moving average of $89.08 and a 200 day simple moving average of $84.34. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The business's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Sell-side analysts expect that CoStar Group, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSGP. Needham & Company LLC decreased their price target on shares of CoStar Group from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, February 21st. Citigroup raised their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, February 7th. BTIG Research initiated coverage on shares of CoStar Group in a research note on Friday, January 19th. They set a "neutral" rating on the stock. The Goldman Sachs Group increased their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Finally, Jefferies Financial Group increased their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.08.

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.