Stephens Inc. AR Acquires Shares of 8,528 ServiceTitan Inc. $TTAN

Stephens Inc. AR acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,528 shares of the company’s stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of ServiceTitan during the second quarter worth approximately $19,146,000. Robeco Institutional Asset Management B.V. acquired a new stake in ServiceTitan during the 3rd quarter worth approximately $941,000. Bank of New York Mellon Corp boosted its stake in ServiceTitan by 1,247.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,704 shares of the company’s stock valued at $9,079,000 after purchasing an additional 78,416 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in ServiceTitan in the 3rd quarter valued at $27,101,000. Finally, Voya Investment Management LLC acquired a new position in ServiceTitan in the 3rd quarter valued at $22,157,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TTAN. The Goldman Sachs Group began coverage on ServiceTitan in a report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 target price for the company. TD Cowen boosted their price objective on shares of ServiceTitan from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, December 5th. Cowen restated a “buy” rating on shares of ServiceTitan in a research report on Friday, December 5th. BMO Capital Markets lifted their price target on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.31.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $90.78 on Monday. The firm has a 50 day moving average of $99.01 and a 200-day moving average of $103.41. ServiceTitan Inc. has a 12 month low of $79.81 and a 12 month high of $131.33. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.50 billion and a PE ratio of -22.25.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. During the same period last year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $102.82, for a total transaction of $1,685,014.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara Mahdessian sold 88,525 shares of ServiceTitan stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 355,077 shares of company stock valued at $35,398,639 in the last three months. 51.72% of the stock is owned by insiders.

About ServiceTitan

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.