CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 61,350 shares of the technology company’s stock after purchasing an additional 2,041 shares during the period. American Century Companies Inc.’s holdings in CoStar Group were worth $4,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the fourth quarter worth approximately $25,000. ORG Partners LLC boosted its position in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new position in CoStar Group during the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group during the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CSGP shares. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents 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 hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Down 4.9 %

Shares of CSGP opened at $72.62 on Friday. The company has a market capitalization of $29.78 billion, a P/E ratio of 207.49 and a beta of 0.88. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $95.71. The business’s 50 day simple moving average is $77.30 and its 200-day simple moving average is $75.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.