Byron Deeter Sells 8,845 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) Director Byron Deeter sold 8,845 shares of ServiceTitan stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total transaction of $560,330.75. Following the completion of the sale, the director directly owned 13,782 shares of the company’s stock, valued at approximately $873,089.70. The trade was a 39.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

ServiceTitan Trading Up 9.1%

Shares of TTAN stock opened at $69.20 on Friday. The firm has a fifty day simple moving average of $64.96 and a two-hundred day simple moving average of $75.61. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The firm has a market capitalization of $6.60 billion, a PE ratio of -47.72 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating 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 business had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TTAN. Morgan Stanley boosted their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Truist Financial reissued a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Robert W. Baird lifted their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Canaccord Genuity Group dropped their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Fifteen 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.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Toth Financial Advisory Corp lifted its holdings in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. bought a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $30,000. Elevation Wealth Partners LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter.

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.