Procyon Advisors LLC Buys 1,726 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Procyon Advisors LLC grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,180 shares of the technology company’s stock after buying an additional 1,726 shares during the period. Procyon Advisors LLC’s holdings in CoStar Group were worth $1,447,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of CoStar Group during the first quarter worth approximately $31,000. Riverview Trust Co purchased a new stake in CoStar Group in the 1st quarter valued at $35,000. RiverPark Advisors LLC purchased a new stake in CoStar Group in the 1st quarter valued at $37,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter valued at $49,000. Finally, Covestor Ltd raised its position in CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after buying an additional 211 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods lowered their price target 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 reaffirmed a “buy” rating and set a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. Robert W. Baird decreased their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $77.34 on Tuesday. The stock has a market cap of $31.70 billion, a P/E ratio of 145.93 and a beta of 0.81. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The business’s 50-day moving average price is $75.94 and its two-hundred day moving average price is $79.93.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share 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 analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. As a group, equities analysts predict that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

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.