ServiceTitan Inc. $TTAN Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 538.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,429,930 shares of the company’s stock after purchasing an additional 3,735,968 shares during the quarter. Vanguard Group Inc. owned 4.77% of ServiceTitan worth $446,670,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after acquiring an additional 1,569,136 shares during the period. Invesco Ltd. raised its position in ServiceTitan by 1,388.2% in the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock valued at $158,344,000 after purchasing an additional 1,378,100 shares during the period. Franklin Resources Inc. lifted its stake in shares of ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares in the last quarter. Atreides Management LP purchased a new stake in shares of ServiceTitan in the second quarter worth about $68,679,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of ServiceTitan by 869.9% in the second quarter. Balyasny Asset Management L.P. now owns 568,530 shares of the company’s stock valued at $60,935,000 after buying an additional 509,912 shares in the last quarter.

ServiceTitan Stock Performance

Shares of ServiceTitan stock opened at $66.11 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan Inc. has a 1 year low of $58.01 and a 1 year high of $131.33. The firm’s 50-day simple moving average is $86.85 and its 200-day simple moving average is $95.72. The firm has a market cap of $6.19 billion, a PE ratio of -16.20 and a beta of -0.86.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share 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 firm had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. During the same period in the previous year, the company earned $0.75 earnings per share. ServiceTitan’s quarterly revenue was up 25.0% on a year-over-year basis. Equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TTAN has been the subject of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Monday. BMO Capital Markets lifted their price target on shares of ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. BTIG Research started coverage on ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. Finally, UBS Group reissued a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.13.

Insider Transactions at ServiceTitan

In related news, CAO Michele O’connor sold 1,678 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $176,693.40. Following the sale, the chief accounting officer owned 89,571 shares in the company, valued at $9,431,826.30. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara Mahdessian sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total value of $3,152,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 216,371 shares of company stock valued at $22,700,994. 51.72% of the stock is currently owned by insiders.

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.