California Public Employees Retirement System Has $63.65 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

California Public Employees Retirement System lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728,286 shares of the technology company's stock after selling 28,089 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of CoStar Group worth $63,645,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CSGP. Principal Financial Group Inc. increased its holdings in CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company's stock valued at $1,523,061,000 after buying an additional 761,383 shares during the last quarter. Wellington Management Group LLP increased its holdings in CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company's stock valued at $275,308,000 after buying an additional 662,592 shares during the last quarter. FMR LLC increased its holdings in CoStar Group by 83.2% in the third quarter. FMR LLC now owns 1,405,414 shares of the technology company's stock valued at $108,062,000 after buying an additional 638,241 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in CoStar Group by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company's stock valued at $920,146,000 after buying an additional 596,595 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of CoStar Group by 24.7% during the third quarter. Envestnet Asset Management Inc. now owns 1,775,814 shares of the technology company's stock worth $136,542,000 after purchasing an additional 352,169 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $2.31 during mid-day trading on Friday, reaching $92.65. The stock had a trading volume of 2,234,096 shares, compared to its average volume of 2,201,923. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The firm has a market capitalization of $37.84 billion, a price-to-earnings ratio of 126.92, a PEG ratio of 10.57 and a beta of 0.84. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The business has a 50 day simple moving average of $89.77 and a 200 day simple moving average of $84.76.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The firm's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts expect that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CSGP. Stephens reaffirmed an "overweight" rating and set a $105.00 price objective on shares of CoStar Group in a report on Wednesday. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Needham & Company LLC raised their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday. Robert W. Baird raised their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday, March 18th. Finally, BMO Capital Markets raised their price objective on CoStar Group from $84.00 to $88.00 and gave the stock a "market perform" rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.46.

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.