NewEdge Wealth LLC Has $3.01 Million Holdings in ServiceTitan Inc. $TTAN

NewEdge Wealth LLC grew its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 35.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,371 shares of the company’s stock after buying an additional 12,416 shares during the period. NewEdge Wealth LLC’s holdings in ServiceTitan were worth $3,006,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTAN. Woodline Partners LP increased its holdings in shares of ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after acquiring an additional 95 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in 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 purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in ServiceTitan by 21.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,042 shares of the company’s stock worth $111,000 after purchasing an additional 184 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after purchasing an additional 209 shares during the period.

Insider Buying and Selling

In related news, CAO Michele O’connor sold 4,910 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer directly owned 71,676 shares of the company’s stock, valued at approximately $5,800,738.68. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Byron B. Deeter sold 8,845 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the transaction, the director directly owned 13,782 shares in the company, valued at approximately $873,089.70. This represents a 39.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 296,664 shares of company stock valued at $19,958,797 in the last 90 days. 39.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TTAN has been the topic of several research reports. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a report on Wednesday, May 27th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $110.00 target price on shares of ServiceTitan in a report on Friday, July 10th. Morgan Stanley upped their price target on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Finally, Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Price Performance

TTAN opened at $70.48 on Friday. The business has a fifty day simple moving average of $70.67 and a 200 day simple moving average of $71.26. The company has a market capitalization of $6.72 billion, a PE ratio of -48.61 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 issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Equities analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

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.