ServiceTitan Inc. $TTAN Shares Purchased by Royal Bank of Canada

Royal Bank of Canada grew its position in ServiceTitan Inc. (NASDAQ:TTAN) by 36.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,122 shares of the company’s stock after purchasing an additional 114,859 shares during the period. Royal Bank of Canada owned approximately 0.45% of ServiceTitan worth $27,485,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares in the last quarter. State of Wyoming acquired a new position in ServiceTitan during the 1st quarter worth approximately $48,000. Sunbelt Securities Inc. boosted its holdings in ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after acquiring an additional 391 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in ServiceTitan by 161.7% in the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after acquiring an additional 325 shares during the period.

ServiceTitan Stock Performance

Shares of TTAN opened at $86.24 on Wednesday. The firm has a fifty day moving average of $73.31 and a 200-day moving average of $69.97. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -59.48 and a beta of 0.02. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the business earned $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% compared to the same quarter last year. Analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michele O’connor sold 4,910 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total transaction of $397,366.30. Following the completion of the transaction, the chief accounting officer directly owned 71,676 shares in the company, valued at approximately $5,800,738.68. This trade represents a 6.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 296,664 shares of company stock worth $19,958,797 in the last ninety days. Insiders own 39.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Wednesday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Wednesday, June 17th. TD Cowen raised their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Piper Sandler lifted their price objective on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

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.