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

Everence Capital Management Inc. purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,770 shares of the technology company’s stock, valued at approximately $766,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its holdings in CoStar Group by 75.5% during the 1st quarter. Quarry LP now owns 358 shares of the technology company’s stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. Blue Trust Inc. increased its holdings in CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in CoStar Group during the 4th quarter valued at $30,000. Benjamin F. Edwards & Company Inc. acquired a new stake in CoStar Group during the 2nd quarter valued at $33,000. Finally, Pinnacle Bancorp Inc. bought a new position in CoStar Group in the 4th quarter valued at $37,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research report on Friday, April 12th. Needham & Company LLC decreased their price objective on CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Royal Bank of Canada increased their price objective on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Keefe, Bruyette & Woods raised their price target on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets reduced their price target on CoStar Group from $84.00 to $79.00 and set a “market perform” rating on the stock in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $100.08.

CoStar Group Trading Down 1.0 %

CoStar Group stock opened at $85.46 on Thursday. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The stock has a market capitalization of $34.90 billion, a P/E ratio of 92.89, a PEG ratio of 9.92 and a beta of 0.84. The stock has a 50-day simple moving average of $89.03 and a 200 day simple moving average of $84.34.

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

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.