Victory Capital Management Inc. Has $12.31 Million Position in ServiceTitan Inc. $TTAN

Victory Capital Management Inc. cut its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 14.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,093 shares of the company’s stock after selling 20,484 shares during the quarter. Victory Capital Management Inc.’s holdings in ServiceTitan were worth $12,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TTAN. Woodline Partners LP grew its holdings in ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after purchasing an additional 95 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of ServiceTitan by 16.1% during the third quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock worth $87,000 after purchasing an additional 119 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of ServiceTitan in the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of ServiceTitan in the 3rd quarter valued at $52,000.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 833 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $91.30, for a total value of $76,052.90. Following the sale, the chief financial officer owned 330,948 shares of the company’s stock, valued at $30,215,552.40. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Vahe Kuzoyan sold 16,388 shares of the 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 transaction, the president owned 1 shares of the company’s stock, valued at $100.62. The trade was a 99.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 85,180 shares of company stock worth $8,620,383 in the last 90 days. 51.72% of the stock is owned by corporate insiders.

ServiceTitan Stock Performance

Shares of ServiceTitan stock opened at $78.49 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of -19.24 and a beta of -0.72. The stock’s 50-day moving average is $80.65 and its 200-day moving average is $93.93. ServiceTitan Inc. has a one year low of $58.01 and a one year high of $131.33.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TTAN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of ServiceTitan in a report on Monday, February 23rd. Wells Fargo & Company dropped their price target on ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. BMO Capital Markets decreased their price objective on ServiceTitan from $125.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group began coverage on shares of ServiceTitan in a report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 target price on the stock. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and an average target price 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.