188,565 Shares in ServiceTitan Inc. $TTAN Bought by Stockbridge Partners LLC

Stockbridge Partners LLC acquired a new position in ServiceTitan Inc. (NASDAQ:TTAN) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 188,565 shares of the company’s stock, valued at approximately $13,333,000. ServiceTitan makes up about 0.3% of Stockbridge Partners LLC’s holdings, making the stock its 17th largest holding. Stockbridge Partners LLC owned about 0.20% of ServiceTitan as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 439,079 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after acquiring an additional 508,848 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of ServiceTitan by 47.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Greenoaks Capital Partners LLC grew its position in ServiceTitan by 20.6% during the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after acquiring an additional 264,926 shares during the period. Finally, Capital International Investors grew its position in ServiceTitan by 23.9% during the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after acquiring an additional 236,287 shares during the period.

Insider Transactions at ServiceTitan

In other news, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total transaction of $10,192,790.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 20,192 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $1,336,508.48. Following the completion of the transaction, the chief financial officer owned 398,033 shares in the company, valued at approximately $26,345,804.27. This trade represents a 4.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 524,837 shares of company stock worth $39,894,622 over the last three months. Insiders own 39.89% of the company’s stock.

Wall Street Analyst Weigh In

TTAN has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. BTIG Research restated a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a report on Friday, July 10th. Robert W. Baird lifted their price target on shares of ServiceTitan from $94.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Monday. Finally, Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research report on Wednesday, May 27th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.93.

ServiceTitan Stock Up 0.8%

TTAN opened at $95.64 on Tuesday. The firm’s 50 day moving average is $78.70 and its 200-day moving average is $70.36. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99. The firm has a market capitalization of $9.12 billion, a P/E ratio of -65.96 and a beta of 0.02.

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