Strs Ohio Acquires 31,500 Shares of ServiceTitan Inc. $TTAN

Strs Ohio lifted its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 90.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 66,300 shares of the company’s stock after buying an additional 31,500 shares during the period. Strs Ohio’s holdings in ServiceTitan were worth $4,207,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Toth Financial Advisory Corp lifted its position in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares during the period. Farther Finance Advisors LLC increased its stake in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. bought a new stake in ServiceTitan in the fourth quarter valued at $30,000. Elevation Wealth Partners LLC acquired a new position in shares of ServiceTitan during the fourth quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the period.

Insider Buying and Selling

In related news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction that occurred on 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 transaction, the insider owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William J.G. Griffith sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the sale, the director directly owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 244,807 shares of company stock valued at $15,649,413. 39.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TTAN. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. BTIG Research upped their price target on ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. TD Cowen raised their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, BMO Capital Markets boosted their price objective on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN traded up $1.54 during midday trading on Tuesday, hitting $79.33. 140,102 shares of the company’s stock were exchanged, compared to its average volume of 1,464,171. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The company has a market cap of $7.57 billion, a PE ratio of -54.70 and a beta of 0.13. The stock has a 50 day moving average price of $66.29 and a 200-day moving average price of $74.08.

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