Baker Tilly Wealth Management LLC Raises Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Baker Tilly Wealth Management LLC boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 27.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,553 shares of the technology company’s stock after acquiring an additional 1,420 shares during the period. Baker Tilly Wealth Management LLC’s holdings in CoStar Group were worth $494,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in CoStar Group by 25.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after purchasing an additional 3,008 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of CoStar Group during the 1st quarter worth approximately $206,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after buying an additional 17,658 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of CoStar Group by 0.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 97,214 shares of the technology company’s stock valued at $9,391,000 after buying an additional 512 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in CoStar Group during the 1st quarter worth $1,504,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Needham & Company LLC dropped their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Performance

Shares of CSGP opened at $74.48 on Monday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $30.41 billion, a PE ratio of 102.03 and a beta of 0.81. The company has a 50-day simple moving average of $76.46 and a 200-day simple moving average of $78.82.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Equities research analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

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.