Marsico Capital Management LLC Invests $5.86 Million in ServiceTitan Inc. $TTAN

Marsico Capital Management LLC purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 54,979 shares of the company’s stock, valued at approximately $5,855,000.

Several other institutional investors also recently modified their holdings of the business. Woodline Partners LP grew its holdings in ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after purchasing an additional 95 shares during the period. Cetera Investment Advisers bought a new position in ServiceTitan in the second quarter valued at approximately $345,000. Russell Investments Group Ltd. bought a new position in ServiceTitan in the second quarter valued at approximately $500,000. Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in ServiceTitan in the second quarter valued at approximately $393,000.

ServiceTitan Stock Down 4.4%

Shares of TTAN stock opened at $68.24 on Friday. The company’s fifty day simple moving average is $63.95 and its 200-day simple moving average is $77.56. The firm has a market cap of $6.50 billion, a PE ratio of -47.06 and a beta of 0.13. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $268.82 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other news, President Vahe Kuzoyan sold 3,220 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the sale, the president owned 1 shares of the company’s stock, valued at $69.86. The trade was a 99.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Sherry sold 17,778 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the completion of the sale, the chief financial officer directly owned 313,025 shares in the company, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 43,440 shares of company stock worth $2,972,868. Company insiders own 39.89% of the company’s stock.

Analyst Ratings Changes

TTAN has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Friday, June 5th. Piper Sandler lifted their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Robert W. Baird lifted their price target on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley lifted 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, Canaccord Genuity Group cut their price target on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.53.

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.