ServiceTitan Inc. $TTAN Stock Position Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 258.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 316,695 shares of the company’s stock after purchasing an additional 228,417 shares during the period. Wellington Management Group LLP’s holdings in ServiceTitan were worth $22,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $112,678,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of ServiceTitan during the fourth quarter worth approximately $89,702,000. Madison Asset Management LLC acquired a new position in shares of ServiceTitan during the second quarter worth approximately $56,118,000. Atreides Management LP bought a new position in ServiceTitan in the 2nd quarter worth approximately $68,679,000. Finally, Two Sigma Investments LP bought a new position in ServiceTitan in the 3rd quarter worth approximately $58,836,000.

Insider Activity

In other ServiceTitan news, CFO David Sherry sold 20,192 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $1,336,508.48. Following the sale, the chief financial officer directly owned 398,033 shares in the company, valued at approximately $26,345,804.27. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Griffith sold 94,415 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the director owned 443,221 shares in the company, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 524,837 shares of company stock valued at $39,894,622 over the last quarter. Insiders own 39.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TTAN shares. TD Cowen lifted their target price on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Truist Financial restated a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Morgan Stanley upped their price objective on shares of ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Monday, August 24th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.93.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN opened at $87.92 on Friday. The stock has a fifty day moving average price of $84.09 and a two-hundred day moving average price of $72.31. The firm has a market cap of $8.39 billion, a P/E ratio of -60.63 and a beta of 0.11. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99.

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