US Bancorp DE Purchases 8,923 Shares of ServiceTitan Inc. $TTAN

US Bancorp DE lifted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 1,712.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,444 shares of the company’s stock after purchasing an additional 8,923 shares during the period. US Bancorp DE’s holdings in ServiceTitan were worth $952,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TTAN. Vanguard Group Inc. grew its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after purchasing an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 1,569,136 shares during the period. Invesco Ltd. grew its position in shares of ServiceTitan by 1,388.2% in the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after buying an additional 1,378,100 shares during the last quarter. Franklin Resources Inc. grew its position in shares of ServiceTitan by 148.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after buying an additional 1,131,062 shares during the last quarter. Finally, Atreides Management LP purchased a new position in shares of ServiceTitan during the second quarter valued at approximately $68,679,000.

ServiceTitan Stock Up 6.0%

Shares of NASDAQ:TTAN opened at $82.95 on Friday. ServiceTitan Inc. has a 52-week low of $58.01 and a 52-week high of $131.33. The firm has a market capitalization of $7.77 billion, a P/E ratio of -20.33 and a beta of -0.72. The stock has a 50 day moving average price of $82.34 and a 200-day moving average price of $94.51. 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 (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The company had revenue of $249.16 million for the quarter, compared to analyst estimates 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 was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TTAN has been the subject of a number of recent analyst reports. TD Cowen restated a “buy” rating on shares of ServiceTitan in a report on Monday, February 23rd. BTIG Research began coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of ServiceTitan from $125.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. Finally, Wells Fargo & Company cut their target price on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average price target of $132.06.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 11,672 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the sale, the chief financial officer owned 331,781 shares in the company, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michele O’connor sold 1,678 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $176,693.40. Following the sale, the chief accounting officer owned 89,571 shares in the company, valued at approximately $9,431,826.30. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,371 shares of company stock worth $22,700,994 in the last ninety days. 51.72% of the stock is owned by company insiders.

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.