Federated Hermes Inc. Cuts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Federated Hermes Inc. decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,114,971 shares of the technology company’s stock after selling 127,867 shares during the quarter. Federated Hermes Inc. owned approximately 0.52% of CoStar Group worth $184,827,000 as of its most recent SEC filing.

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

CoStar Group Stock Up 0.1 %

CoStar Group stock traded up $0.06 during mid-day trading on Thursday, hitting $85.52. 264,143 shares of the company’s stock were exchanged, compared to its average volume of 2,113,746. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $34.93 billion, a P/E ratio of 92.89, a P/E/G ratio of 9.92 and a beta of 0.84. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The stock has a 50 day moving average of $89.03 and a two-hundred day moving average of $84.34.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. BTIG Research initiated coverage on CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating for the company. The Goldman Sachs Group increased their target price on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised their price objective on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Finally, Robert W. Baird raised their price target on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.08.

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.