TimesSquare Capital Management LLC Sells 41,122 Shares of ServiceTitan Inc. $TTAN

TimesSquare Capital Management LLC trimmed its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 864,582 shares of the company’s stock after selling 41,122 shares during the period. ServiceTitan comprises 1.4% of TimesSquare Capital Management LLC’s holdings, making the stock its 14th biggest holding. TimesSquare Capital Management LLC’s holdings in ServiceTitan were worth $92,078,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in ServiceTitan in the 3rd quarter valued at about $25,000. Toth Financial Advisory Corp boosted its position in ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares during the period. Farther Finance Advisors LLC boosted its position in ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares during the period. eCIO Inc. purchased a new stake in ServiceTitan in the 4th quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC purchased a new stake in ServiceTitan in the 4th quarter valued at about $36,000.

ServiceTitan Stock Performance

Shares of TTAN opened at $62.52 on Tuesday. The company has a 50 day moving average price of $64.30 and a 200-day moving average price of $80.39. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $130.21. The stock has a market capitalization of $5.96 billion, a PE ratio of -36.35 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The firm had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $245.47 million. During the same quarter in the prior year, the company earned $0.12 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. Equities research analysts forecast that ServiceTitan Inc. will post -0.62 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on TTAN. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Wells Fargo & Company lowered their price objective 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. KeyCorp lowered their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Truist Financial lowered their price objective on shares of ServiceTitan from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Stifel Nicolaus lowered their price objective on shares of ServiceTitan from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.31.

Insider Buying and Selling at ServiceTitan

In other news, CAO Michele O’connor sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $58.93, for a total value of $294,650.00. Following the completion of the sale, the chief accounting officer owned 79,416 shares of the company’s stock, valued at approximately $4,679,984.88. This represents a 5.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $224,949.20. Following the transaction, the president owned 1 shares of the company’s stock, valued at approximately $69.86. This trade represents a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,440 shares of company stock worth $2,281,468 over the last quarter. 39.89% of the stock is currently owned by company 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.