ServiceTitan Inc. $TTAN Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC cut its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,431 shares of the company’s stock after selling 7,033 shares during the period. WCM Investment Management LLC owned about 0.19% of ServiceTitan worth $10,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TTAN. Toth Financial Advisory Corp increased its stake in shares of ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the period. Farther Finance Advisors LLC lifted its stake in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 174 shares during the last quarter. eCIO Inc. acquired a new position in ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC acquired a new position in ServiceTitan during the 4th quarter worth approximately $36,000. Finally, 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 purchasing an additional 392 shares during the last quarter.

ServiceTitan Price Performance

NASDAQ TTAN opened at $79.46 on Tuesday. The company has a fifty day moving average of $69.61 and a two-hundred day moving average of $71.99. The company has a market capitalization of $7.58 billion, a PE ratio of -54.80 and a beta of 0.13. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted its 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 during 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 business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. On average, research analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Ara Mahdessian sold 51,947 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J.G. Griffith sold 94,415 shares of the firm’s 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 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 disclosure for this sale is available in the SEC filing. Insiders have sold 296,664 shares of company stock valued at $19,958,797 in the last 90 days. Company insiders own 39.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTAN. Truist Financial restated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. Robert W. Baird lifted their price target on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a 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.com, ServiceTitan presently has an average rating of “Moderate Buy” and an average price target of $110.53.

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.