Whittier Trust Co. Raises Position in ServiceTitan Inc. $TTAN

Whittier Trust Co. boosted its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 11,668.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,724 shares of the company’s stock after buying an additional 60,208 shares during the quarter. Whittier Trust Co. owned approximately 0.06% of ServiceTitan worth $6,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TTAN. Cloud Capital Management LLC purchased a new position in ServiceTitan in the 3rd quarter valued at about $25,000. Toth Financial Advisory Corp lifted its stake 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 in the last quarter. Farther Finance Advisors LLC lifted its stake 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 in the last quarter. eCIO Inc. purchased a new position in ServiceTitan in the 4th quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC purchased a new position in ServiceTitan in the 4th quarter valued at about $36,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TTAN. Wells Fargo & Company decreased their price target on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. BMO Capital Markets decreased their price target on shares of ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. TD Cowen raised their price target on shares of ServiceTitan from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Needham & Company LLC decreased their price target on shares of ServiceTitan from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Sixteen investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.31.

ServiceTitan Trading Up 2.3%

TTAN stock opened at $64.31 on Friday. The company has a market cap of $6.02 billion, a price-to-earnings ratio of -37.39 and a beta of -0.14. ServiceTitan Inc. has a 12 month low of $55.23 and a 12 month high of $131.33. The firm has a 50-day moving average of $66.55 and a two-hundred day moving average of $85.49.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $253.99 million during the quarter, compared to the consensus estimate of $245.47 million. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. ServiceTitan’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Activity

In other news, CEO Ara Mahdessian sold 2,288 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $159,839.68. Following the completion of the sale, the chief executive officer owned 1 shares in the company, valued at $69.86. This trade represents a 99.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Vahe Kuzoyan sold 3,220 shares of the firm’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 sale, the president owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,418 shares of company stock worth $2,370,319 over the last quarter. 51.72% of the stock is currently 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.