Geneva Capital Management LLC Sells 30,029 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Geneva Capital Management LLC trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,671 shares of the technology company’s stock after selling 30,029 shares during the period. Geneva Capital Management LLC’s holdings in CoStar Group were worth $27,968,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp raised its holdings in shares of CoStar Group by 1.4% in the third quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock worth $5,268,000 after buying an additional 993 shares during the period. National Pension Service raised its holdings in shares of CoStar Group by 0.7% in the third quarter. National Pension Service now owns 1,020,943 shares of the technology company’s stock worth $77,020,000 after buying an additional 6,826 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of CoStar Group by 12.9% in the third quarter. Asset Management One Co. Ltd. now owns 282,828 shares of the technology company’s stock worth $21,337,000 after buying an additional 32,302 shares during the period. QRG Capital Management Inc. raised its holdings in shares of CoStar Group by 22.6% in the third quarter. QRG Capital Management Inc. now owns 22,945 shares of the technology company’s stock worth $1,731,000 after buying an additional 4,235 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of CoStar Group by 11.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 318,616 shares of the technology company’s stock worth $24,036,000 after buying an additional 32,290 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Up 3.0 %

Shares of NASDAQ:CSGP opened at $77.81 on Thursday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The business’s fifty day simple moving average is $74.51 and its 200-day simple moving average is $75.59. The company has a market capitalization of $31.91 billion, a PE ratio of 222.31 and a beta of 0.87. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

CoStar Group announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.07.

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.