Healthcare of Ontario Pension Plan Trust Fund grew its holdings in ServiceTitan Inc. (NASDAQ:TTAN – Free Report) by 25.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,376 shares of the company’s stock after purchasing an additional 43,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ServiceTitan were worth $22,725,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of TTAN. Woodline Partners LP increased its holdings in shares of ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of ServiceTitan in the 2nd quarter worth $345,000. Russell Investments Group Ltd. bought a new stake in shares of ServiceTitan in the 2nd quarter worth $500,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of ServiceTitan in the 2nd quarter worth $393,000.
Analyst Upgrades and Downgrades
A number of analysts have commented on TTAN shares. Canaccord Genuity Group reduced their target price on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. Piper Sandler lifted their target price on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a report on Friday, March 13th. BMO Capital Markets lifted their target price on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. Finally, Wells Fargo & Company reduced their target price on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.53.
ServiceTitan Price Performance
TTAN stock opened at $68.80 on Tuesday. The company has a market cap of $6.56 billion, a P/E ratio of -47.45 and a beta of 0.12. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The stock’s fifty day moving average price is $64.16 and its 200-day moving average price is $77.26.
ServiceTitan (NASDAQ:TTAN – Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. As a group, analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current year.
Insider Transactions at ServiceTitan
In other news, CFO David Sherry sold 17,778 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $1,241,971.08. Following the transaction, the chief financial officer directly owned 313,025 shares in the company, valued at $21,867,926.50. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer owned 81,890 shares in the company, valued at approximately $5,661,874.60. This trade represents a 10.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 43,440 shares of company stock valued at $2,972,868. Corporate insiders own 39.89% of the company’s stock.
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.
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