Connor Clark & Lunn Investment Management Ltd. Purchases 32,165 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 410.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 40,007 shares of the technology company’s stock after acquiring an additional 32,165 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CoStar Group were worth $2,864,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. Telemark Asset Management LLC lifted its stake in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after buying an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after buying an additional 14,468 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in CoStar Group in the 3rd quarter worth approximately $621,000. Finally, Steward Partners Investment Advisory LLC grew its stake in CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock valued at $511,000 after buying an additional 5,940 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 1.8 %

CSGP opened at $80.15 on Tuesday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $75.50 and its 200 day simple moving average is $75.68. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market cap of $32.87 billion, a PE ratio of 229.00 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, research analysts expect 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 repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CSGP shares. Wells Fargo & Company cut their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. Citigroup decreased their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

About CoStar Group

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.