Comerica Bank Has $2.82 Million Stake in ServiceTitan Inc. $TTAN

Comerica Bank grew its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 372.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,513 shares of the company’s stock after purchasing an additional 20,899 shares during the quarter. Comerica Bank’s holdings in ServiceTitan were worth $2,824,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of ServiceTitan in the third quarter valued at about $25,000. Toth Financial Advisory Corp grew its position in shares of ServiceTitan by 150.0% in the fourth 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 grew its position in shares of 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 during the last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $36,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. BTIG Research lowered their price target on ServiceTitan from $130.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. KeyCorp lowered their price target on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group lowered their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Citigroup lowered their price target on ServiceTitan from $117.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.31.

ServiceTitan Stock Up 3.4%

TTAN stock opened at $63.82 on Tuesday. The company has a market cap of $5.98 billion, a PE ratio of -37.10 and a beta of -0.23. ServiceTitan Inc. has a twelve month low of $55.23 and a twelve month high of $131.33. The business’s 50-day simple moving average is $66.39 and its 200 day simple moving average is $82.88.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $245.47 million. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 earnings per share. On average, equities research analysts anticipate that ServiceTitan Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 5,154 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $360,058.44. Following the completion of the transaction, the chief accounting officer owned 84,416 shares in the company, valued at $5,897,301.76. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ara Mahdessian sold 2,288 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 transaction of $159,839.68. Following the transaction, the chief executive officer owned 1 shares of the company’s stock, valued at approximately $69.86. This represents a 99.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,440 shares of company stock worth $2,281,468 in the last three months. 51.72% of the stock is currently owned by company insiders.

About ServiceTitan

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.