Meeder Asset Management Inc. Raises Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Meeder Asset Management Inc. grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 721.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,708 shares of the technology company’s stock after purchasing an additional 99,858 shares during the period. Meeder Asset Management Inc.’s holdings in CoStar Group were worth $9,009,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bamco Inc. NY increased its holdings in shares of CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock valued at $1,374,783,000 after purchasing an additional 418,128 shares during the period. Capital International Investors grew its holdings in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after acquiring an additional 4,345,267 shares during the period. Geode Capital Management LLC grew its holdings in CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock worth $819,678,000 after acquiring an additional 166,769 shares during the period. Akre Capital Management LLC grew its holdings in CoStar Group by 4.3% during the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock worth $666,781,000 after acquiring an additional 379,787 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in CoStar Group by 6.6% during the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company’s stock worth $668,400,000 after acquiring an additional 524,601 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CSGP. JPMorgan Chase & Co. upped their price objective on CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. BMO Capital Markets upped their target price on CoStar Group from $82.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. JMP Securities reissued a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Robert W. Baird upped their target price on CoStar Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Up 0.4%

Shares of NASDAQ:CSGP opened at $93.36 on Tuesday. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $93.75. The stock’s fifty day simple moving average is $81.09 and its 200-day simple moving average is $78.42. The company has a market capitalization of $39.55 billion, a P/E ratio of 373.44, a P/E/G ratio of 4.53 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The business had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. During the same period in the prior year, the business earned $0.15 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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.