7,810 Shares in ServiceTitan Inc. $TTAN Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the third quarter, HoldingsChannel.com reports. The fund acquired 7,810 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors have also modified their holdings of TTAN. Franklin Resources Inc. grew its stake in shares of ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares in the last quarter. Invesco Ltd. lifted its holdings in ServiceTitan by 1,388.2% during the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after buying an additional 1,378,100 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ServiceTitan by 300,996.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company’s stock worth $141,995,000 after acquiring an additional 1,324,383 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of ServiceTitan by 5.2% in the 2nd quarter. Bamco Inc. NY now owns 935,388 shares of the company’s stock valued at $100,255,000 after acquiring an additional 46,313 shares during the last quarter. Finally, Greenoaks Capital Partners LLC increased its holdings in shares of ServiceTitan by 7.4% in the 2nd quarter. Greenoaks Capital Partners LLC now owns 850,933 shares of the company’s stock valued at $91,203,000 after acquiring an additional 58,309 shares during the last quarter.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $102.82, for a total value of $1,685,014.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ara Mahdessian sold 88,525 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $107.56, for a total transaction of $9,521,749.00. The disclosure for this sale is available in the SEC filing. Insiders sold 355,202 shares of company stock valued at $35,405,269 in the last quarter. 51.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TTAN shares. Morgan Stanley upped their price target on ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. Truist Financial set a $130.00 price target on ServiceTitan in a research note on Tuesday, October 21st. Finally, TD Cowen reiterated a “buy” rating on shares of ServiceTitan in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.06.

ServiceTitan Stock Performance

Shares of TTAN opened at $74.45 on Tuesday. The stock has a market capitalization of $6.97 billion, a P/E ratio of -18.25 and a beta of -0.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan Inc. has a 1 year low of $73.99 and a 1 year high of $131.33. The company’s fifty day moving average is $98.74 and its two-hundred day moving average is $101.66.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

About ServiceTitan

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.