Bamco Inc. NY Raises Holdings in ServiceTitan Inc. $TTAN

Bamco Inc. NY lifted its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 14.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,096,931 shares of the company’s stock after acquiring an additional 134,313 shares during the quarter. Bamco Inc. NY’s holdings in ServiceTitan were worth $116,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp boosted its stake in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares during the last quarter. eCIO Inc. purchased a new stake in shares of ServiceTitan in the fourth quarter worth about $30,000. Elevation Wealth Partners LLC purchased a new position in ServiceTitan during the fourth quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares in the last quarter.

ServiceTitan Price Performance

NASDAQ TTAN opened at $62.45 on Thursday. The company has a market cap of $5.96 billion, a PE ratio of -43.07 and a beta of 0.13. The stock’s 50 day simple moving average is $64.22 and its 200-day simple moving average is $76.92. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released 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. 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 the consensus estimate of $257.40 million. During the same quarter last year, the business posted $0.18 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTAN. Truist Financial reiterated a “buy” rating and set a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of ServiceTitan in a research report on Wednesday. BTIG Research increased their price target on ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Finally, The Goldman Sachs Group lowered their price target on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.53.

Insider Buying and Selling

In related news, CAO Michele O’connor sold 5,304 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $351,071.76. Following the completion of the sale, the chief accounting officer owned 76,586 shares of the company’s stock, valued at approximately $5,069,227.34. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ara Mahdessian sold 3,028 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $200,423.32. Following the completion of the sale, the chief executive officer directly owned 2 shares of the company’s stock, valued at approximately $132.38. This represents a 99.93% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 46,732 shares of company stock worth $3,086,391 in the last three months. Company insiders own 39.89% of the company’s stock.

ServiceTitan Company 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.