Zurcher Kantonalbank Zurich Cantonalbank Has $10.73 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 74.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,728 shares of the technology company’s stock after acquiring an additional 52,563 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CoStar Group were worth $10,725,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Quarry LP lifted its stake in 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 purchasing an additional 154 shares during the last quarter. Blue Trust Inc. lifted its position in shares of CoStar Group by 125.4% in 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. Resurgent Financial Advisors LLC bought a new stake in shares of CoStar Group in the 4th quarter valued at $30,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of CoStar Group during the second quarter worth $33,000. Finally, Pinnacle Bancorp Inc. bought a new position in CoStar Group during the fourth quarter worth $37,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Performance

Shares of CSGP stock opened at $84.26 on Friday. 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 firm has a market cap of $34.41 billion, a price-to-earnings ratio of 91.59, a P/E/G ratio of 9.68 and a beta of 0.84. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The firm’s 50-day simple moving average is $89.10 and its two-hundred day simple moving average is $84.40.

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 net margin of 15.26% and a return on equity of 6.08%. The company had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. During the same quarter in the previous year, the firm posted $0.35 EPS. CoStar Group’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSGP. Bank of America boosted their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Robert W. Baird upped their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Jefferies Financial Group raised their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group increased their price objective on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

CoStar Group 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.