Sierra Summit Advisors LLC Makes New Investment in ServiceTitan Inc. $TTAN

Sierra Summit Advisors LLC acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,594 shares of the company’s stock, valued at approximately $1,022,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 buying an additional 439,079 shares during the period. JPMorgan Chase & Co. increased its position in ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after buying an additional 1,569,136 shares during the period. Artisan Partners Limited Partnership increased its position in ServiceTitan by 116.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock worth $110,745,000 after buying an additional 591,213 shares during the period. Capital International Investors increased its position in ServiceTitan by 0.7% during the 3rd quarter. Capital International Investors now owns 988,412 shares of the company’s stock worth $99,662,000 after buying an additional 7,237 shares during the period. Finally, Bamco Inc. NY increased its position in ServiceTitan by 2.9% during the 3rd quarter. Bamco Inc. NY now owns 962,618 shares of the company’s stock worth $97,061,000 after buying an additional 27,230 shares during the period.

Insider Transactions at ServiceTitan

In other news, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction 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. This trade represents a 99.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Vahe Kuzoyan sold 3,220 shares of ServiceTitan stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the sale, the president directly owned 1 shares in the company, valued at $69.86. The trade was a 99.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 33,440 shares of company stock valued at $2,281,468. Company insiders own 39.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TTAN. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. BMO Capital Markets decreased their price target on ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 13th. Morgan Stanley cut their price objective on shares of ServiceTitan from $131.00 to $118.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. William Blair reiterated an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Finally, Canaccord Genuity Group decreased their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.47.

ServiceTitan Stock Up 0.5%

NASDAQ:TTAN opened at $62.78 on Thursday. The stock’s 50-day simple moving average is $63.53 and its 200 day simple moving average is $79.92. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $128.51. The firm has a market capitalization of $5.98 billion, a PE ratio of -36.50 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The firm had revenue of $253.99 million for the quarter, compared to analyst estimates of $245.47 million. During the same period last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, analysts anticipate that ServiceTitan Inc. will post -0.62 EPS for the current fiscal year.

ServiceTitan 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.