Whittier Trust Co. Increases Position in ServiceTitan Inc. $TTAN

Whittier Trust Co. increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 77.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,770 shares of the company’s stock after acquiring an additional 47,046 shares during the quarter. Whittier Trust Co. owned approximately 0.12% of ServiceTitan worth $6,791,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sandhill Capital Partners LLC purchased a new stake in shares of ServiceTitan in the third quarter valued at $27,062,000. Vanguard Group Inc. increased its stake in ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after purchasing an additional 439,079 shares during the last quarter. Renaissance Capital LLC lifted its position in ServiceTitan by 222.8% during the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after buying an additional 28,454 shares during the period. CIBC Bancorp USA Inc. purchased a new position in ServiceTitan during the third quarter worth about $84,983,000. Finally, Zevenbergen Capital Investments LLC acquired a new stake in ServiceTitan in the 4th quarter worth about $4,281,000.

ServiceTitan Trading Up 2.7%

Shares of ServiceTitan stock traded up $2.08 during trading hours on Tuesday, reaching $79.87. The stock had a trading volume of 299,514 shares, compared to its average volume of 1,464,949. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of -54.95 and a beta of 0.13. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The firm has a 50 day simple moving average of $66.29 and a two-hundred day simple moving average of $74.08.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same period in the previous year, the firm earned $0.18 earnings per share. ServiceTitan’s revenue for the quarter was up 24.6% on a year-over-year basis. Sell-side analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling at ServiceTitan

In related news, CAO Michele O’connor sold 10,000 shares of ServiceTitan stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the transaction, the chief accounting officer owned 81,890 shares in the company, valued at approximately $5,661,874.60. The trade was a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction 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 sale, the director directly owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 244,807 shares of company stock worth $15,649,413. Corporate insiders own 39.89% of the company’s stock.

Analyst Ratings Changes

TTAN has been the subject of several recent analyst reports. Canaccord Genuity Group lowered their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. BMO Capital Markets boosted their target price on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research report on Wednesday, May 27th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Fifteen research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.53.

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.