Byron Deeter Sells 8,845 Shares of ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan Inc. (NASDAQ:TTAN) Director Byron Deeter sold 8,845 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the transaction, the director owned 13,782 shares of the company’s stock, valued at $873,089.70. The trade was a 39.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ServiceTitan Stock Performance

ServiceTitan stock traded down $1.63 during mid-day trading on Thursday, reaching $63.40. The company’s stock had a trading volume of 1,444,872 shares, compared to its average volume of 1,396,327. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The business’s 50 day simple moving average is $64.70 and its 200 day simple moving average is $75.96. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -43.72 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

TTAN has been the topic of several analyst reports. TD Cowen upped their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a research note on Wednesday, June 17th. Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a report on Wednesday, May 27th. Finally, KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Institutional Investors Weigh In On ServiceTitan

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after acquiring an additional 439,079 shares during the period. Franklin Resources Inc. increased its stake in shares of ServiceTitan by 33.8% during the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after purchasing an additional 508,848 shares during the period. Artisan Partners Limited Partnership increased 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 during the period. Greenoaks Capital Partners LLC lifted its holdings in ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after purchasing an additional 264,926 shares during the last quarter. Finally, Capital International Investors lifted its holdings in ServiceTitan by 23.9% during the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock worth $130,430,000 after purchasing an additional 236,287 shares during the last quarter.

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.