Dimensional Fund Advisors LP Acquires Shares of 14,424 ServiceTitan Inc. $TTAN

Dimensional Fund Advisors LP bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 14,424 shares of the company’s stock, valued at approximately $915,000.

A number of other institutional investors have also made changes to their positions in TTAN. Parallel Advisors LLC raised its position in shares of ServiceTitan by 226.4% during the 1st quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $109,000 after acquiring an additional 1,191 shares in the last quarter. KBC Group NV increased its stake in ServiceTitan by 101.6% during the first quarter. KBC Group NV now owns 1,730 shares of the company’s stock valued at $110,000 after purchasing an additional 872 shares during the last quarter. Swiss National Bank raised its holdings in shares of ServiceTitan by 136.7% during the first quarter. Swiss National Bank now owns 112,200 shares of the company’s stock worth $7,120,000 after purchasing an additional 64,800 shares during the period. Roubaix Capital LLC acquired a new stake in shares of ServiceTitan during the first quarter worth $3,409,000. Finally, Jennison Associates LLC lifted its position in shares of ServiceTitan by 235.3% in the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company’s stock worth $24,145,000 after buying an additional 267,002 shares during the last quarter.

Insider Activity

In related news, CEO Ara Mahdessian sold 51,947 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Vahe Kuzoyan sold 114,732 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total value of $10,192,790.88. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 515,837 shares of company stock valued at $39,077,152 in the last ninety days. Corporate insiders own 39.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TTAN. BMO Capital Markets boosted their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research report on Wednesday, May 27th. Piper Sandler boosted their price objective on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Robert W. Baird boosted their price objective on ServiceTitan from $94.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Wednesday, July 22nd. Fifteen equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $90.40 on Friday. The firm’s 50 day moving average price is $75.93 and its two-hundred day moving average price is $70.02. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of -62.34 and a beta of 0.02.

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

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.