First Trust Advisors LP Acquires 644,068 Shares of ServiceTitan Inc. $TTAN

First Trust Advisors LP boosted its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 2,401.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 670,883 shares of the company’s stock after purchasing an additional 644,068 shares during the quarter. First Trust Advisors LP’s holdings in ServiceTitan were worth $67,645,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Intellectus Partners LLC bought a new stake in shares of ServiceTitan during the third quarter valued at approximately $292,000. Orion Porfolio Solutions LLC bought a new position in shares of ServiceTitan during the third quarter worth $668,000. GW&K Investment Management LLC grew its stake in ServiceTitan by 31.0% during the third quarter. GW&K Investment Management LLC now owns 364,826 shares of the company’s stock valued at $36,786,000 after acquiring an additional 86,272 shares in the last quarter. NZS Capital LLC grew its stake in ServiceTitan by 44.9% during the third quarter. NZS Capital LLC now owns 341,747 shares of the company’s stock valued at $34,458,000 after acquiring an additional 105,944 shares in the last quarter. Finally, Picton Mahoney Asset Management increased its holdings in ServiceTitan by 1,415.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 111,746 shares of the company’s stock valued at $11,268,000 after acquiring an additional 104,374 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTAN. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. TD Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a report on Monday, February 23rd. UBS Group reiterated a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. Finally, The Goldman Sachs Group started coverage on ServiceTitan in a report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.06.

ServiceTitan Price Performance

TTAN stock opened at $77.90 on Wednesday. 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 $7.30 billion, a P/E ratio of -19.09 and a beta of -0.72. The company has a fifty day simple moving average of $81.21 and a two-hundred day simple moving average of $94.04. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at ServiceTitan

In related news, CEO Ara Mahdessian sold 32,000 shares of ServiceTitan stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total value of $3,152,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Vahe Kuzoyan sold 16,388 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $100.62, for a total value of $1,648,960.56. Following the sale, the president directly owned 1 shares in the company, valued at $100.62. The trade was a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 127,846 shares of company stock valued at $13,179,245 over the last quarter. 51.72% of the stock is owned by corporate insiders.

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.