793,636 Shares in ServiceTitan Inc. $TTAN Purchased by Madison Asset Management LLC

Madison Asset Management LLC purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 793,636 shares of the company’s stock, valued at approximately $56,118,000.

Several other institutional investors also recently bought and sold shares of TTAN. Farther Finance Advisors LLC raised its holdings in shares of ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 174 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 acquiring an additional 392 shares in the last quarter. State of Wyoming acquired a new stake in shares of ServiceTitan in the first quarter worth approximately $48,000. Sunbelt Securities Inc. boosted its stake in shares of ServiceTitan by 391.0% in the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after acquiring an additional 391 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after purchasing an additional 325 shares in the last quarter.

Wall Street Analysts Forecast Growth

TTAN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a report on Tuesday, July 21st. Piper Sandler boosted their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. BMO Capital Markets upped their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Finally, Morgan Stanley lifted their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.93.

Insider Activity

In other ServiceTitan news, CFO David Sherry sold 20,192 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $1,336,508.48. Following the sale, the chief financial officer owned 398,033 shares of the company’s stock, valued at $26,345,804.27. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total value of $10,192,790.88. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 524,837 shares of company stock worth $39,894,622 over the last three months. Company insiders own 39.89% of the company’s stock.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $95.02 on Thursday. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of -65.53 and a beta of 0.02. The firm has a 50 day simple moving average of $77.12 and a 200-day simple moving average of $69.92. ServiceTitan Inc. has a one year low of $54.17 and a one year high of $119.99.

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