Sei Investments Co. Acquires 27,656 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sei Investments Co. lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,233,592 shares of the technology company’s stock after purchasing an additional 27,656 shares during the quarter. Sei Investments Co. owned 0.30% of CoStar Group worth $91,458,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. increased its position in shares of CoStar Group by 3.5% during the second quarter. Pacer Advisors Inc. now owns 48,675 shares of the technology company’s stock worth $3,609,000 after acquiring an additional 1,633 shares in the last quarter. Bridges Investment Management Inc. bought a new position in CoStar Group during the 2nd quarter worth about $419,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CoStar Group by 14.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 17,123 shares of the technology company’s stock valued at $1,269,000 after purchasing an additional 2,224 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of CoStar Group by 44.7% during the second quarter. Intech Investment Management LLC now owns 7,073 shares of the technology company’s stock worth $524,000 after buying an additional 2,184 shares during the period. Finally, MQS Management LLC bought a new position in shares of CoStar Group during the second quarter worth about $207,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $77.37 on Friday. The firm has a market capitalization of $31.59 billion, a price-to-earnings ratio of 105.99, a PEG 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. The business’s 50-day moving average price is $76.32 and its 200-day moving average price is $81.92. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird cut their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods cut their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price objective on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Bank of America reduced their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. 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 company has an average rating of “Moderate Buy” and a consensus price target of $96.38.

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.