Shares of ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) rose 5.8% on Wednesday. The stock traded as high as $71.74 and last traded at $72.6240. Approximately 675,702 shares changed hands during trading, a decline of 61% from the average session volume of 1,743,710 shares. The stock had previously closed at $68.67.
Analyst Ratings Changes
A number of research firms recently issued reports on TTAN. TD Cowen restated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Wednesday. BTIG Research reiterated a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a report on Friday, October 2nd. Weiss Ratings upgraded ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 29th. Finally, Wells Fargo & Company cut their target price on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.38.
Read Our Latest Report on ServiceTitan
ServiceTitan Trading Up 2.2%
ServiceTitan (NASDAQ:TTAN – Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. ServiceTitan’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities analysts predict that ServiceTitan Inc. will post -0.52 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceTitan
In related news, President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total transaction of $10,192,790.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 23,246 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $1,326,649.22. Following the completion of the sale, the chief financial officer owned 363,511 shares of the company’s stock, valued at approximately $20,745,572.77. This represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 267,676 shares of company stock worth $22,209,008. 39.89% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of TTAN. Artisan Partners Limited Partnership lifted its stake in shares of ServiceTitan by 47.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after purchasing an additional 519,024 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of ServiceTitan by 14.0% during the 4th quarter. Bamco Inc. NY now owns 1,096,931 shares of the company’s stock valued at $116,823,000 after buying an additional 134,313 shares during the period. Madison Asset Management LLC raised its holdings in shares of ServiceTitan by 41.1% during the 1st quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after buying an additional 262,037 shares during the period. Atreides Management LP lifted its position in ServiceTitan by 26.5% during the 4th quarter. Atreides Management LP now owns 792,433 shares of the company’s stock worth $84,394,000 after acquiring an additional 166,206 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in ServiceTitan by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after acquiring an additional 11,362 shares during the period.
ServiceTitan Company Profile
ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.
ServiceTitan’s products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.
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