ServiceTitan Inc. $TTAN Position Reduced by Sei Investments Co.

Sei Investments Co. lowered its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 66.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 52,434 shares of the company’s stock after selling 105,018 shares during the period. Sei Investments Co.’s holdings in ServiceTitan were worth $3,327,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the last quarter. State of Wyoming acquired a new stake in ServiceTitan during the first quarter valued at approximately $48,000. Sunbelt Securities Inc. lifted its holdings in ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after buying an additional 391 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in ServiceTitan by 161.7% during the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after buying an additional 325 shares during the last quarter.

Insider Transactions at ServiceTitan

In other news, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the transaction, the director owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 38,287 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $84.89, for a total transaction of $3,250,183.43. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 384,717 shares of company stock valued at $27,426,649 over the last three months. 39.89% of the stock is currently owned by company insiders.

ServiceTitan Trading Up 0.3%

NASDAQ:TTAN opened at $85.83 on Friday. The firm has a market capitalization of $8.19 billion, a PE ratio of -59.19 and a beta of 0.02. The stock has a 50 day moving average of $74.44 and a 200-day moving average of $70.02. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TTAN shares. Piper Sandler boosted their price target on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a research note on Wednesday, May 27th. BTIG Research reaffirmed a “buy” rating and issued a $110.00 price objective on shares of ServiceTitan in a report on Friday, July 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, June 17th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ServiceTitan presently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

About ServiceTitan

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.