CoStar Group, Inc. $CSGP Stock Position Increased by Vulcan Value Partners LLC

Vulcan Value Partners LLC grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 3.1% during the third quarter, Holdings Channel reports. The firm owned 3,831,609 shares of the technology company’s stock after acquiring an additional 115,125 shares during the period. CoStar Group makes up approximately 5.9% of Vulcan Value Partners LLC’s portfolio, making the stock its 7th largest position. Vulcan Value Partners LLC’s holdings in CoStar Group were worth $323,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSGP. ING Groep NV increased its stake in shares of CoStar Group by 1,950.5% in the third quarter. ING Groep NV now owns 128,052 shares of the technology company’s stock worth $10,804,000 after acquiring an additional 121,807 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in CoStar Group by 14.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,380 shares of the technology company’s stock worth $14,459,000 after purchasing an additional 21,225 shares during the period. UMB Bank n.a. raised its stake in shares of CoStar Group by 51.6% during the 3rd quarter. UMB Bank n.a. now owns 225,305 shares of the technology company’s stock valued at $19,009,000 after buying an additional 76,720 shares during the last quarter. Swedbank AB lifted its holdings in shares of CoStar Group by 21.0% in the 3rd quarter. Swedbank AB now owns 302,360 shares of the technology company’s stock valued at $25,510,000 after buying an additional 52,433 shares during the period. Finally, Generali Asset Management SPA SGR boosted its stake in shares of CoStar Group by 641.8% in the third quarter. Generali Asset Management SPA SGR now owns 23,880 shares of the technology company’s stock worth $2,015,000 after buying an additional 20,661 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Up 1.6%

Shares of NASDAQ:CSGP opened at $49.87 on Monday. CoStar Group, Inc. has a fifty-two week low of $43.80 and a fifty-two week high of $97.43. The firm’s 50 day moving average price is $60.24 and its 200 day moving average price is $72.28. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The stock has a market cap of $21.14 billion, a price-to-earnings ratio of 997.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

CoStar Group declared that its board has approved a stock repurchase plan on Wednesday, January 7th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $68.00 price target on CoStar Group in a report on Thursday, January 8th. Bank of America set a $74.00 price target on shares of CoStar Group in a research report on Wednesday, January 7th. Wells Fargo & Company set a $48.00 price objective on CoStar Group and gave the stock an “underweight” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $84.00 target price on shares of CoStar Group in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.18.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.