GW&K Investment Management LLC Has $36.79 Million Stake in ServiceTitan Inc. $TTAN

GW&K Investment Management LLC raised its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 31.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 364,826 shares of the company’s stock after acquiring an additional 86,272 shares during the quarter. GW&K Investment Management LLC’s holdings in ServiceTitan were worth $36,786,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after buying an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after acquiring an additional 1,569,136 shares during the period. Franklin Resources Inc. grew its holdings in shares of ServiceTitan by 148.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares in the last quarter. Invesco Ltd. increased its position in shares of ServiceTitan by 1,388.2% during the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock valued at $158,344,000 after purchasing an additional 1,378,100 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of ServiceTitan by 116.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock valued at $110,745,000 after purchasing an additional 591,213 shares in the last quarter.

ServiceTitan Stock Up 1.4%

TTAN opened at $78.26 on Friday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of -19.18 and a beta of -0.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The firm’s 50-day simple moving average is $82.84 and its 200-day simple moving average is $94.68. ServiceTitan Inc. has a twelve month low of $58.01 and a twelve month high of $131.33.

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

Insider Activity

In related news, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $100.62, for a total transaction of $1,648,960.56. Following the completion of the sale, the president directly owned 1 shares of the company’s stock, valued at $100.62. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 value of $176,693.40. Following the completion of the transaction, the chief accounting officer directly owned 89,571 shares of the company’s stock, valued at $9,431,826.30. This represents a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 216,371 shares of company stock worth $22,700,994. Corporate insiders own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

TTAN has been the subject of several research reports. Piper Sandler reduced their target price on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. BTIG Research started coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.06.

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.