Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in ServiceTitan Inc. $TTAN

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 87.3% during the first quarter, HoldingsChannel.com reports. The fund owned 27,000 shares of the company’s stock after selling 186,376 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ServiceTitan were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Toth Financial Advisory Corp grew its stake in ServiceTitan by 150.0% in 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 period. Farther Finance Advisors LLC raised its stake in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares during the period. eCIO Inc. bought a new stake in shares of ServiceTitan during the 4th quarter worth $30,000. Northwestern Mutual Wealth Management Co. boosted its holdings 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 worth $46,000 after buying an additional 392 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of ServiceTitan in the 1st quarter worth about $48,000.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the insider owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the director owned 443,221 shares in the company, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 296,664 shares of company stock valued at $19,958,797. 39.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research report on Tuesday, July 21st. Truist Financial reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Morgan Stanley boosted their target price 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. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of ServiceTitan in a research note on Wednesday, June 17th. Fifteen investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Performance

TTAN stock opened at $83.06 on Friday. The stock has a fifty day moving average of $72.44 and a 200-day moving average of $70.42. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of -57.28 and a beta of 0.13.

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

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.