ServiceTitan Inc. $TTAN Shares Sold by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP decreased its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 557,852 shares of the company’s stock after selling 84,071 shares during the quarter. Liontrust Investment Partners LLP owned approximately 0.59% of ServiceTitan worth $35,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in shares of ServiceTitan by 1.5% during the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after acquiring an additional 11,362 shares during the period. EverSource Wealth Advisors LLC grew its holdings in ServiceTitan by 75.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after purchasing an additional 680 shares during the period. California State Teachers Retirement System increased its position in ServiceTitan by 196.7% during the first quarter. California State Teachers Retirement System now owns 63,324 shares of the company’s stock worth $4,019,000 after purchasing an additional 41,983 shares during the last quarter. Royal Bank of Canada increased its position in ServiceTitan by 36.1% during the first quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock worth $27,485,000 after purchasing an additional 114,859 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in ServiceTitan by 13.4% during the first quarter. The Manufacturers Life Insurance Company now owns 17,452 shares of the company’s stock worth $1,108,000 after purchasing an additional 2,061 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TTAN shares. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Tuesday, July 21st. Truist Financial reaffirmed a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Piper Sandler lifted their target price on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Finally, Robert W. Baird boosted their price target on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Down 5.2%

Shares of TTAN stock opened at $79.87 on Friday. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -55.08 and a beta of 0.13. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The firm’s 50 day moving average price is $72.04 and its two-hundred day moving average price is $70.34.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same period in the previous year, the firm earned $0.18 earnings per share. ServiceTitan’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, Director William J.G. Griffith sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the sale, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the insider directly owned 443,221 shares in the company, valued at $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 296,664 shares of company stock worth $19,958,797 in the last quarter. Insiders own 39.89% of the company’s stock.

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.