State Board of Administration of Florida Retirement System raised its holdings in CoStar Group Inc (NASDAQ:CSGP) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,158 shares of the technology company’s stock after acquiring an additional 231 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in CoStar Group were worth $19,846,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in CSGP. BlackRock Inc. lifted its holdings in CoStar Group by 9.8% in the second quarter. BlackRock Inc. now owns 2,820,677 shares of the technology company’s stock valued at $1,163,897,000 after acquiring an additional 252,916 shares during the period. American Century Companies Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth $88,290,000. Bank of New York Mellon Corp raised its stake in shares of CoStar Group by 49.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 442,556 shares of the technology company’s stock worth $182,611,000 after buying an additional 147,283 shares during the last quarter. Putnam Investments LLC raised its stake in shares of CoStar Group by 82.5% during the 2nd quarter. Putnam Investments LLC now owns 305,109 shares of the technology company’s stock worth $125,897,000 after buying an additional 137,897 shares during the last quarter. Finally, FMR LLC raised its stake in shares of CoStar Group by 47.3% during the 2nd quarter. FMR LLC now owns 292,395 shares of the technology company’s stock worth $120,651,000 after buying an additional 93,891 shares during the last quarter. 96.25% of the stock is owned by institutional investors.
CSGP has been the subject of several research reports. B. Riley lifted their price target on CoStar Group from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research raised CoStar Group from a “hold” rating to a “strong-buy” rating and set a $495.00 price target for the company in a research note on Tuesday, July 24th. JPMorgan Chase & Co. lifted their price target on CoStar Group to $412.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 25th. Citigroup lifted their price target on CoStar Group from $425.00 to $490.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Finally, Needham & Company LLC lifted their price target on CoStar Group from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $451.44.
NASDAQ:CSGP opened at $367.66 on Friday. The firm has a market cap of $13.03 billion, a PE ratio of 95.00, a PEG ratio of 3.00 and a beta of 1.52. CoStar Group Inc has a 52-week low of $283.11 and a 52-week high of $448.35.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.08. The firm had revenue of $305.53 million during the quarter, compared to analysts’ expectations of $305.99 million. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. Research analysts forecast that CoStar Group Inc will post 7.13 earnings per share for the current fiscal year.
CoStar Group Profile
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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