Everence Capital Management Inc. Invests $766,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Everence Capital Management Inc. bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, Holdings Channel reports. The firm bought 8,770 shares of the technology company’s stock, valued at approximately $766,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in shares of CoStar Group by 37.1% in the 3rd quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after acquiring an additional 200,183 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of CoStar Group by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after acquiring an additional 662,592 shares during the last quarter. LPL Financial LLC raised its holdings in shares of CoStar Group by 16.8% in the 3rd quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock worth $6,657,000 after acquiring an additional 12,422 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of CoStar Group by 6.0% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,559 shares of the technology company’s stock worth $351,000 after acquiring an additional 260 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of CoStar Group by 9.0% in the 3rd quarter. Fred Alger Management LLC now owns 439,295 shares of the technology company’s stock worth $33,777,000 after acquiring an additional 36,091 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 1.0 %

CSGP opened at $85.46 on Thursday. The company has a fifty day moving average price of $89.03 and a 200-day moving average price of $84.34. The firm has a market capitalization of $34.90 billion, a P/E ratio of 92.89, a price-to-earnings-growth ratio of 9.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Jefferies Financial Group increased their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. BMO Capital Markets decreased their price target on shares of CoStar Group from $84.00 to $79.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. BTIG Research initiated coverage on shares of CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.08.

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.