ServiceTitan Inc. $TTAN Stake Raised by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,345 shares of the company’s stock after acquiring an additional 10,315 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of ServiceTitan worth $11,429,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TTAN. Northwestern Mutual Wealth Management Co. grew its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of ServiceTitan during the 3rd quarter valued at $52,000. PNC Financial Services Group Inc. acquired a new position in shares of ServiceTitan in the second quarter worth $79,000. EverSource Wealth Advisors LLC acquired a new position in shares of ServiceTitan in the second quarter worth $94,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of ServiceTitan during the second quarter worth $99,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TTAN shares. BMO Capital Markets boosted their target price on ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. Piper Sandler dropped their price target on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.06.

ServiceTitan Stock Performance

Shares of TTAN opened at $67.51 on Wednesday. The company has a market capitalization of $6.32 billion, a PE ratio of -16.55 and a beta of -0.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. ServiceTitan Inc. has a one year low of $65.85 and a one year high of $131.33. The company’s fifty day moving average price is $98.30 and its 200 day moving average price is $101.34.

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

Insiders Place Their Bets

In related news, CFO David Sherry sold 11,672 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the transaction, the chief financial officer owned 331,781 shares of the company’s stock, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $102.82, for a total transaction of $1,685,014.16. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 326,676 shares of company stock valued at $32,788,864 in the last three months. Company insiders own 51.72% of the company’s stock.

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.