Zurcher Kantonalbank Zurich Cantonalbank Acquires 52,563 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 74.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,728 shares of the technology company's stock after buying an additional 52,563 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CoStar Group were worth $10,725,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP boosted its stake in CoStar Group by 75.5% in the 1st quarter. Quarry LP now owns 358 shares of the technology company's stock valued at $25,000 after buying an additional 154 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company's stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of CoStar Group in the 4th quarter worth about $30,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of CoStar Group during the 2nd quarter worth about $33,000. Finally, Pinnacle Bancorp Inc. bought a new position in CoStar Group during the 4th quarter valued at about $37,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Up 0.1 %

Shares of CSGP traded up $0.08 on Friday, reaching $84.26. 2,067,344 shares of the company's stock were exchanged, compared to its average volume of 1,658,954. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The stock has a market capitalization of $34.41 billion, a P/E ratio of 91.59, a price-to-earnings-growth ratio of 9.68 and a beta of 0.84. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $89.10 and a two-hundred day moving average price of $84.46.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup upped their price objective 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. Jefferies Financial Group lifted their price objective on CoStar Group from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods increased their target price on CoStar Group from $96.00 to $109.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Royal Bank of Canada lifted their price target on CoStar Group from $95.00 to $109.00 and gave the company an "outperform" rating in a report on Monday, March 25th. Finally, Bank of America increased their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.50.

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.