Bridges Investment Management Inc. Makes New $419,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Bridges Investment Management Inc. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,658 shares of the technology company’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in CoStar Group in the first quarter worth about $31,000. Riverview Trust Co bought a new position in shares of CoStar Group in the 1st quarter valued at about $35,000. RiverPark Advisors LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth approximately $37,000. Connectus Wealth LLC raised its stake in shares of CoStar Group by 915.0% during the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after buying an additional 467,534 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group during the second quarter worth approximately $49,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 2.4 %

CSGP opened at $77.37 on Friday. The stock has a market capitalization of $31.59 billion, a P/E ratio of 105.99, a P/E/G ratio of 11.55 and a beta of 0.81. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The firm’s fifty day simple moving average is $76.32 and its 200 day simple moving average is $81.92.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $96.00 target price on shares of CoStar Group in a report on Tuesday, September 10th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research report on Tuesday, September 17th. Finally, Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.