Thornburg Investment Management Inc. Increases Stake in ServiceTitan Inc. $TTAN

Thornburg Investment Management Inc. boosted its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 50.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,159 shares of the company’s stock after acquiring an additional 41,467 shares during the quarter. Thornburg Investment Management Inc. owned 0.13% of ServiceTitan worth $13,223,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp raised its position 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 acquiring an additional 150 shares in the last quarter. Farther Finance Advisors LLC raised its position in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 174 shares in the last quarter. eCIO Inc. purchased a new position in ServiceTitan during the fourth quarter valued at approximately $30,000. Elevation Wealth Partners LLC purchased a new position in ServiceTitan during the fourth quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares in the last quarter.

ServiceTitan Price Performance

ServiceTitan stock opened at $66.77 on Monday. The stock has a market capitalization of $6.37 billion, a PE ratio of -46.05 and a beta of 0.12. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The business has a 50 day simple moving average of $64.04 and a 200-day simple moving average of $77.40.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities research analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TTAN shares. Canaccord Genuity Group reduced their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research report on Wednesday, May 27th. Robert W. Baird lifted their price target on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction that occurred on Wednesday, March 18th. The stock was 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 $69.86. The trade was a 99.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michele O’connor sold 10,000 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the completion of the sale, the chief accounting officer directly owned 81,890 shares in the company, valued at $5,661,874.60. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,440 shares of company stock valued at $2,972,868 over the last ninety days. 39.89% of the stock is owned by corporate insiders.

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.