OMERS ADMINISTRATION Corp Sells 6,200 Shares of ServiceTitan Inc. $TTAN

OMERS ADMINISTRATION Corp decreased its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 66.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,200 shares of the company’s stock after selling 6,200 shares during the period. OMERS ADMINISTRATION Corp’s holdings in ServiceTitan were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Woodline Partners LP lifted its position in ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after buying an additional 95 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of ServiceTitan during the 2nd quarter worth about $345,000. Russell Investments Group Ltd. bought a new position in shares of ServiceTitan in the 2nd quarter valued at about $500,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of ServiceTitan in the second quarter valued at about $393,000.

Insider Buying and Selling

In related news, CAO Michele O’connor sold 4,910 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer directly owned 71,676 shares of the company’s stock, valued at approximately $5,800,738.68. The trade was a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the sale, the insider owned 443,221 shares in the company, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 296,664 shares of company stock valued at $19,958,797. Insiders own 39.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. BTIG Research restated a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a research note on Friday, July 10th. BMO Capital Markets boosted their price target on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Robert W. Baird upped their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. Fifteen equities 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. Based on data from MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $83.06 on Friday. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -57.28 and a beta of 0.13. The firm’s 50-day moving average is $72.44 and its 200-day moving average is $70.42.

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

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.