SRS Capital Advisors Inc. Has $857,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

SRS Capital Advisors Inc. increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 37.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,970 shares of the technology company’s stock after acquiring an additional 3,239 shares during the period. SRS Capital Advisors Inc.’s holdings in CoStar Group were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after buying an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CoStar Group by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after buying an additional 76,916 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Finally, Barclays PLC grew its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Up 2.5 %

CoStar Group stock opened at $76.25 on Monday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a 50 day moving average price of $74.30 and a two-hundred day moving average price of $75.55. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on CSGP. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday. They issued a “buy” rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.07.

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.