Sands Capital Alternatives LLC Takes Position in ServiceTitan Inc. $TTAN

Sands Capital Alternatives LLC purchased a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 89,856 shares of the company’s stock, valued at approximately $9,570,000. ServiceTitan comprises approximately 1.8% of Sands Capital Alternatives LLC’s portfolio, making the stock its 12th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after acquiring an additional 439,079 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of ServiceTitan by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after acquiring an additional 1,569,136 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of ServiceTitan by 33.8% during the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after acquiring an additional 508,848 shares in the last quarter. Capital International Investors increased its holdings in shares of ServiceTitan by 23.9% during the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after acquiring an additional 236,287 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of ServiceTitan by 116.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock valued at $110,745,000 after acquiring an additional 591,213 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen raised their price target on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Wells Fargo & Company dropped their price objective on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Finally, Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a research report on Wednesday, May 27th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Price Performance

ServiceTitan stock opened at $66.77 on Monday. ServiceTitan Inc. has a one year low of $54.17 and a one year high of $119.99. The stock has a market capitalization of $6.37 billion, a PE ratio of -46.05 and a beta of 0.12. The business’s fifty day moving average is $64.04 and its 200 day moving average is $77.40.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same period last year, the firm posted $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 3,220 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $224,949.20. Following the transaction, the president directly owned 1 shares of the company’s stock, valued at approximately $69.86. This trade represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the completion of the transaction, the chief accounting officer directly owned 81,890 shares in the company, valued at $5,661,874.60. The trade was a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 43,440 shares of company stock valued at $2,972,868. Company insiders own 39.89% of the company’s stock.

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.