Janus Henderson Group PLC Buys 11,362 Shares of ServiceTitan Inc. $TTAN

Janus Henderson Group PLC grew its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 783,560 shares of the company’s stock after buying an additional 11,362 shares during the quarter. Janus Henderson Group PLC owned approximately 0.82% of ServiceTitan worth $49,724,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after acquiring an additional 439,079 shares during the period. Renaissance Capital LLC boosted its position in shares of ServiceTitan by 222.8% in the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares during the period. Comerica Bank boosted its position in shares of ServiceTitan by 372.3% in the fourth quarter. Comerica Bank now owns 26,513 shares of the company’s stock worth $2,824,000 after purchasing an additional 20,899 shares during the period. Robeco Schweiz AG increased its stake in shares of ServiceTitan by 35.3% in the fourth quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock worth $8,861,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of ServiceTitan by 12,542.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 31,101 shares of the company’s stock worth $3,165,000 after purchasing an additional 30,855 shares in the last quarter.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michele O’connor sold 4,910 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the sale, the chief accounting officer directly owned 71,676 shares in the company, valued at approximately $5,800,738.68. The trade was a 6.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 296,664 shares of company stock valued at $19,958,797. 39.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TTAN has been the topic of a number of analyst reports. Citigroup restated a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Morgan Stanley upped their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Finally, TD Cowen boosted their price target on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN opened at $83.06 on Friday. The company has a market cap of $7.92 billion, a P/E ratio of -57.28 and a beta of 0.13. The firm’s fifty day moving average is $72.44 and its two-hundred day moving average is $70.42. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99.

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