L. Roy Papp & Associates LLP Sells 570 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

L. Roy Papp & Associates LLP trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,940 shares of the technology company’s stock after selling 570 shares during the period. L. Roy Papp & Associates LLP’s holdings in CoStar Group were worth $2,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in CoStar Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the period. Janus Henderson Group PLC grew its stake in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Norges Bank purchased a new stake in CoStar Group in the 4th quarter worth approximately $406,934,000. Blair William & Co. IL raised its stake in CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after acquiring an additional 26,800 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in CoStar Group by 10.1% during the fourth quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock valued at $362,207,000 after purchasing an additional 380,859 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

NASDAQ CSGP traded up $1.44 during trading hours on Friday, hitting $76.99. 1,621,662 shares of the company’s stock traded hands, compared to its average volume of 2,285,297. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The firm’s 50-day moving average is $74.61 and its 200-day moving average is $82.85. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a market capitalization of $31.55 billion, a PE ratio of 105.42, a PEG ratio of 10.97 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. During the same period last year, the company earned $0.27 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSGP. Bank of America cut their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Company 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.