Truist Financial Corp Acquires 19,577 Shares of ServiceTitan Inc. $TTAN

Truist Financial Corp raised its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 84.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 42,789 shares of the company’s stock after acquiring an additional 19,577 shares during the period. Truist Financial Corp’s holdings in ServiceTitan were worth $4,314,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TTAN. Woodline Partners LP boosted its holdings in ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of ServiceTitan during the 2nd quarter valued at about $3,438,000. Triasima Portfolio Management inc. purchased a new position in ServiceTitan during the second quarter valued at approximately $3,648,000. Blair William & Co. IL purchased a new stake in ServiceTitan in the 2nd quarter worth $2,330,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in ServiceTitan during the 2nd quarter valued at approximately $273,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TTAN shares. Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research note on Tuesday, October 21st. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. BTIG Research initiated coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They set a “buy” rating and a $130.00 price objective for the company. Morgan Stanley boosted their price objective on ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Insider Buying and Selling

In other ServiceTitan news, CEO Ara Mahdessian sold 88,525 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michele O’connor sold 1,678 shares of ServiceTitan stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $176,693.40. Following the completion of the sale, the chief accounting officer directly owned 89,571 shares in the company, valued at approximately $9,431,826.30. The trade was a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 233,592 shares of company stock worth $24,280,986. Insiders own 51.72% of the company’s stock.

ServiceTitan Stock Down 4.8%

ServiceTitan stock opened at $64.25 on Thursday. The stock has a 50-day simple moving average of $97.81 and a 200-day simple moving average of $101.08. The company has a market capitalization of $6.02 billion, a P/E ratio of -15.75 and a beta of -0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan Inc. has a fifty-two week low of $61.78 and a fifty-two week high of $131.33.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Equities research analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current 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.