Quantbot Technologies LP Has $12.29 Million Stake in ServiceTitan Inc. $TTAN

Quantbot Technologies LP reduced its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 31.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 121,893 shares of the company’s stock after selling 56,741 shares during the period. Quantbot Technologies LP owned about 0.13% of ServiceTitan worth $12,290,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of TTAN. Woodline Partners LP boosted its position in shares of ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock valued at $87,000 after acquiring an additional 119 shares in the last quarter. Cloud Capital Management LLC bought a new position in ServiceTitan during the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares during the last quarter. Finally, Whittier Trust Co. bought a new stake in ServiceTitan in the 3rd quarter worth about $52,000.

ServiceTitan Stock Performance

ServiceTitan stock opened at $72.39 on Friday. ServiceTitan Inc. has a 1-year low of $58.01 and a 1-year high of $131.33. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.78 billion, a PE ratio of -17.74 and a beta of -0.86. The firm’s 50 day simple moving average is $85.45 and its 200 day simple moving average is $95.39.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. The business had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other news, CAO Michele O’connor sold 1,678 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the transaction, the chief accounting officer directly owned 89,571 shares in the company, valued at approximately $9,431,826.30. This represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $100.62, for a total transaction of $1,648,960.56. Following the transaction, the president owned 1 shares in the company, valued at $100.62. The trade was a 99.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 216,371 shares of company stock valued at $22,700,994. Company insiders own 51.72% of the company’s stock.

Analysts Set New Price Targets

TTAN has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on ServiceTitan in a research note on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. BMO Capital Markets upped their price target on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Finally, The Goldman Sachs Group assumed coverage on shares of ServiceTitan in a research note on Tuesday, January 13th. They issued a “neutral” rating and a $117.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.13.

ServiceTitan Company Profile

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.