Select Equity Group L.P. Invests $14.89 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Select Equity Group L.P. purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 207,951 shares of the technology company's stock, valued at approximately $14,887,000. Select Equity Group L.P. owned approximately 0.05% of CoStar Group as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its stake in shares of CoStar Group by 497.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock valued at $511,000 after acquiring an additional 5,940 shares during the period. Allworth Financial LP raised its stake in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after buying an additional 173 shares during the last quarter. Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the period. Krilogy Financial LLC raised its position in CoStar Group by 54.9% during the fourth quarter. Krilogy Financial LLC now owns 23,662 shares of the technology company's stock valued at $1,694,000 after acquiring an additional 8,387 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its position in shares of CoStar Group by 12.6% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company's stock valued at $13,874,000 after buying an additional 20,977 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Trading Down 0.7%

Shares of CoStar Group stock traded down $0.54 during trading hours on Tuesday, hitting $76.37. The company's stock had a trading volume of 3,421,243 shares, compared to its average volume of 2,885,815. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market capitalization of $32.22 billion, a PE ratio of 218.20 and a beta of 0.89. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $87.86. The stock has a 50 day moving average of $78.03 and a 200 day moving average of $76.30.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. Analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSGP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Needham & Company LLC upped their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price objective on CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on 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 issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $88.31.

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.