Vanguard Group Inc. Purchases 439,079 Shares of ServiceTitan Inc. $TTAN

Vanguard Group Inc. raised its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 4,869,009 shares of the company’s stock after buying an additional 439,079 shares during the quarter. Vanguard Group Inc. owned approximately 0.05% of ServiceTitan worth $518,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after purchasing an additional 1,569,136 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of ServiceTitan by 116.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock valued at $110,745,000 after purchasing an additional 591,213 shares during the period. Capital International Investors grew its stake in shares of ServiceTitan by 0.7% during the 3rd quarter. Capital International Investors now owns 988,412 shares of the company’s stock valued at $99,662,000 after purchasing an additional 7,237 shares during the period. Bamco Inc. NY grew its stake in shares of ServiceTitan by 2.9% during the 3rd quarter. Bamco Inc. NY now owns 962,618 shares of the company’s stock valued at $97,061,000 after purchasing an additional 27,230 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in shares of ServiceTitan by 6.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 905,704 shares of the company’s stock valued at $91,322,000 after purchasing an additional 55,251 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TTAN shares. Needham & Company LLC cut their price target on ServiceTitan from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Stifel Nicolaus cut their price target on ServiceTitan from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Truist Financial cut their price objective on ServiceTitan from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Morgan Stanley cut their price objective on ServiceTitan from $131.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Finally, Canaccord Genuity Group cut their price objective on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.31.

Insiders Place Their Bets

In related news, President Vahe Kuzoyan sold 3,220 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $224,949.20. Following the transaction, the president directly owned 1 shares of the company’s stock, valued at approximately $69.86. The trade was a 99.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michele O’connor sold 5,154 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $360,058.44. Following the completion of the transaction, the chief accounting officer directly owned 84,416 shares in the company, valued at approximately $5,897,301.76. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,440 shares of company stock valued at $2,281,468 in the last 90 days. 51.72% of the stock is currently owned by company insiders.

ServiceTitan Trading Up 3.4%

NASDAQ TTAN opened at $63.82 on Tuesday. The stock’s 50 day moving average is $66.39 and its 200 day moving average is $82.88. ServiceTitan Inc. has a 12 month low of $55.23 and a 12 month high of $131.33. The stock has a market cap of $5.98 billion, a PE ratio of -37.10 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The company had revenue of $253.99 million for the quarter, compared to analysts’ expectations of $245.47 million. During the same period in the previous year, the firm earned $0.12 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. On average, analysts forecast that ServiceTitan Inc. will post -0.62 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.