ServiceTitan Inc. $TTAN Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 538.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,429,930 shares of the company’s stock after purchasing an additional 3,735,968 shares during the quarter. Vanguard Group Inc.’s holdings in ServiceTitan were worth $446,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in ServiceTitan in the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares in the last quarter. Whittier Trust Co. bought a new position in ServiceTitan during the third quarter valued at about $52,000. PNC Financial Services Group Inc. bought a new stake in ServiceTitan in the second quarter worth about $79,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of ServiceTitan during the 2nd quarter valued at about $94,000.

Insider Transactions at ServiceTitan

In related news, CEO Ara Mahdessian sold 32,000 shares of ServiceTitan stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total value of $3,152,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Sherry sold 833 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total transaction of $76,052.90. Following the transaction, the chief financial officer directly owned 330,948 shares in the company, valued at $30,215,552.40. The trade was a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 216,371 shares of company stock worth $22,700,994 in the last ninety days. Company insiders own 51.72% of the company’s stock.

ServiceTitan Trading Up 2.8%

Shares of NASDAQ TTAN opened at $66.11 on Thursday. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a one year low of $58.01 and a one year high of $131.33. The business has a 50-day moving average price of $86.85 and a two-hundred day moving average price of $95.72. The firm has a market capitalization of $6.19 billion, a PE ratio of -16.20 and a beta of -0.86.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $249.16 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TTAN. Morgan Stanley raised their target price on shares of ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. BTIG Research began coverage on ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. Wells Fargo & Company decreased their price target on ServiceTitan from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. TD Cowen restated a “buy” rating on shares of ServiceTitan in a report on Monday. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average price target 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.