CoStar Group, Inc. $CSGP Shares Bought by Fiera Capital Corp

Fiera Capital Corp raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 54.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,331 shares of the technology company’s stock after purchasing an additional 82,767 shares during the quarter. Fiera Capital Corp owned 0.06% of CoStar Group worth $19,771,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CSGP. Quent Capital LLC purchased a new position in CoStar Group in the 3rd quarter valued at $26,000. Rossby Financial LCC raised its position in CoStar Group by 315.9% during the 2nd quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock worth $27,000 after buying an additional 259 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CoStar Group in the 3rd quarter worth $28,000. Westside Investment Management Inc. boosted its holdings in shares of CoStar Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock valued at $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of CoStar Group in the third quarter valued at about $31,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent analyst reports. Citizens Jmp reduced their price objective on shares of CoStar Group from $100.00 to $78.00 and set a “market outperform” rating for the company in a research report on Thursday, January 8th. Zacks Research downgraded CoStar Group from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Bank of America set a $74.00 price target on CoStar Group in a report on Wednesday, January 7th. Wells Fargo & Company set a $48.00 price target on CoStar Group and gave the company an “underweight” rating in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $84.00 price objective on shares of CoStar Group in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.18.

CoStar Group Stock Performance

NASDAQ CSGP opened at $49.87 on Friday. The business has a 50 day moving average price of $60.24 and a 200 day moving average price of $72.62. The company has a market capitalization of $21.14 billion, a P/E ratio of 997.40, a PEG ratio of 1.29 and a beta of 0.84. CoStar Group, Inc. has a 1-year low of $43.80 and a 1-year high of $97.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 3.12.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 7th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.