Employees Retirement System of Texas Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Employees Retirement System of Texas boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1,509.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 79,220 shares of the technology company’s stock after buying an additional 74,298 shares during the period. Employees Retirement System of Texas’ holdings in CoStar Group were worth $6,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in CoStar Group by 1,489.6% during the second quarter. Principal Financial Group Inc. now owns 15,169,117 shares of the technology company’s stock valued at $1,256,306,000 after acquiring an additional 14,214,869 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of CoStar Group by 945.8% in the 2nd quarter. Baillie Gifford & Co. now owns 12,000,170 shares of the technology company’s stock worth $993,853,000 after buying an additional 10,852,735 shares in the last quarter. Veritas Asset Management LLP grew its stake in shares of CoStar Group by 816.5% in the 2nd quarter. Veritas Asset Management LLP now owns 4,424,810 shares of the technology company’s stock worth $366,463,000 after buying an additional 3,942,029 shares in the last quarter. Ownership Capital B.V. grew its stake in shares of CoStar Group by 924.9% in the 2nd quarter. Ownership Capital B.V. now owns 3,525,580 shares of the technology company’s stock worth $291,989,000 after buying an additional 3,181,585 shares in the last quarter. Finally, Findlay Park Partners LLP grew its stake in shares of CoStar Group by 836.7% in the 2nd quarter. Findlay Park Partners LLP now owns 3,347,610 shares of the technology company’s stock worth $277,249,000 after buying an additional 2,990,245 shares in the last quarter. 93.81% of the stock is owned by institutional investors.

A number of equities analysts have commented on CSGP shares. Zacks Investment Research raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research note on Friday, July 9th. Truist lowered their target price on shares of CoStar Group from $107.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, July 28th. Stephens began coverage on shares of CoStar Group in a report on Wednesday, July 21st. They set a “buy” rating for the company. Finally, TheStreet upgraded shares of CoStar Group from a “c+” rating to a “b” rating in a report on Tuesday, June 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $22.51.

Shares of CoStar Group stock opened at $89.10 on Friday. The firm’s 50 day moving average price is $86.47 and its 200-day moving average price is $40.83. The company has a quick ratio of 11.62, a current ratio of 11.62 and a debt-to-equity ratio of 0.18. CoStar Group, Inc. has a 52-week low of $74.31 and a 52-week high of $95.28. The company has a market cap of $35.19 billion, a P/E ratio of 151.79, a PEG ratio of 4.82 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Monday, July 26th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $480.33 million for the quarter, compared to the consensus estimate of $469.88 million. CoStar Group had a net margin of 12.68% and a return on equity of 6.72%. CoStar Group’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 EPS. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

In other CoStar Group news, Director John W. Hill sold 6,160 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $85.77, for a total transaction of $528,343.20. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.36% of the stock is currently owned by insiders.

CoStar Group Profile

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

Featured Article: When can a hold rating present a buying opportunity?

Want to see what other hedge funds are holding CSGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGP).

Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

Receive News & Ratings for CoStar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoStar Group and related companies with MarketBeat.com's FREE daily email newsletter.