Pathway Capital Management LP Makes New $2.13 Million Investment in ServiceTitan Inc. $TTAN

Pathway Capital Management LP bought a new position in ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 19,959 shares of the company’s stock, valued at approximately $2,126,000. ServiceTitan accounts for 27.3% of Pathway Capital Management LP’s portfolio, making the stock its 2nd biggest position.

A number of other large investors have also recently modified their holdings of the business. HighPoint Advisor Group LLC boosted its position in shares of ServiceTitan by 88.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 19,997 shares of the company’s stock valued at $2,130,000 after acquiring an additional 9,384 shares during the last quarter. Advisor OS LLC purchased a new position in shares of ServiceTitan during the 4th quarter valued at about $218,000. LRI Investments LLC increased its stake in ServiceTitan by 78.9% in the 4th quarter. LRI Investments LLC now owns 839 shares of the company’s stock worth $89,000 after purchasing an additional 370 shares during the period. NewEdge Wealth LLC increased its stake in ServiceTitan by 59.0% in the 4th quarter. NewEdge Wealth LLC now owns 34,955 shares of the company’s stock worth $3,723,000 after purchasing an additional 12,976 shares during the period. Finally, Connable Office Inc. increased its stake in ServiceTitan by 23.6% in the 4th quarter. Connable Office Inc. now owns 2,529 shares of the company’s stock worth $269,000 after purchasing an additional 483 shares during the period.

Analysts Set New Price Targets

Several research firms have recently issued reports on TTAN. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Needham & Company LLC reduced their price target on ServiceTitan from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Stifel Nicolaus dropped their target price on ServiceTitan from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Finally, Wells Fargo & Company lowered their price target on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Sixteen investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.31.

ServiceTitan Stock Down 4.6%

NASDAQ TTAN opened at $57.50 on Wednesday. The stock’s 50-day moving average price is $65.73 and its 200-day moving average price is $81.53. ServiceTitan Inc. has a 52 week low of $55.23 and a 52 week high of $131.33. The company has a market capitalization of $5.38 billion, a P/E ratio of -33.43 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $253.99 million for the quarter, compared to the consensus estimate of $245.47 million. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. Research analysts anticipate that ServiceTitan Inc. will post -0.62 EPS for the current year.

Insider Activity at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $224,949.20. Following the completion of the transaction, the president owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Sherry sold 17,778 shares of ServiceTitan 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 $1,241,971.08. Following the completion of the sale, the chief financial officer directly owned 313,025 shares in the company, valued at approximately $21,867,926.50. The trade was a 5.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,440 shares of company stock worth $2,281,468 over the last 90 days. Company insiders own 39.89% of the company’s stock.

ServiceTitan 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.