Capital International Investors Has $130.43 Million Stock Holdings in ServiceTitan Inc. $TTAN

Capital International Investors boosted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 23.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,224,699 shares of the company’s stock after buying an additional 236,287 shares during the quarter. Capital International Investors’ holdings in ServiceTitan were worth $130,430,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after acquiring an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after acquiring an additional 1,569,136 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceTitan during the 4th quarter valued at $112,678,000. CIBC Bancorp USA Inc. bought a new stake in shares of ServiceTitan during the 3rd quarter valued at $84,983,000. Finally, First Trust Advisors LP raised its position in shares of ServiceTitan by 2,401.9% during the 3rd quarter. First Trust Advisors LP now owns 670,883 shares of the company’s stock valued at $67,645,000 after acquiring an additional 644,068 shares during the last quarter.

ServiceTitan Stock Down 5.7%

Shares of TTAN stock opened at $72.95 on Tuesday. 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 $6.95 billion, a price-to-earnings ratio of -50.31 and a beta of 0.12. The firm has a fifty day moving average of $63.44 and a 200-day moving average of $77.90.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating 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 5.64%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. Research analysts expect that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

Insider Activity at ServiceTitan

In related news, CEO Ara Mahdessian sold 2,288 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $159,839.68. Following the sale, the chief executive officer directly owned 1 shares of the company’s stock, valued at approximately $69.86. The trade was a 99.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michele O’connor sold 5,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $58.93, for a total transaction of $294,650.00. Following the completion of the sale, the chief accounting officer directly owned 79,416 shares in the company, valued at $4,679,984.88. This represents a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 33,440 shares of company stock valued at $2,281,468. 39.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTAN. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Friday. Wells Fargo & Company dropped their target price on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a report on Friday, March 13th. 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. Finally, Canaccord Genuity Group decreased their price target on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

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.