Perigon Wealth Management LLC Sells 12,291 Shares of ServiceTitan Inc. $TTAN

Perigon Wealth Management LLC decreased its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 46.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,248 shares of the company’s stock after selling 12,291 shares during the period. Perigon Wealth Management LLC’s holdings in ServiceTitan were worth $1,437,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of ServiceTitan by 1,005.1% during 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 during the last quarter. PNC Financial Services Group Inc. bought a new position in ServiceTitan during the 2nd quarter valued at about $79,000. EverSource Wealth Advisors LLC bought a new position in ServiceTitan during the 2nd quarter valued at about $94,000. Lazard Asset Management LLC purchased a new stake in shares of ServiceTitan during the 2nd quarter valued at about $99,000. Finally, RiverPark Advisors LLC bought a new stake in shares of ServiceTitan in the second quarter worth approximately $104,000.

ServiceTitan Trading Down 0.7%

Shares of TTAN stock opened at $107.18 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The company has a market cap of $10.04 billion and a price-to-earnings ratio of -26.27. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $131.33. The firm has a fifty day moving average price of $97.45 and a 200-day moving average price of $103.83.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The company had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.ServiceTitan’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, equities analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of ServiceTitan from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, September 19th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of ServiceTitan in a research note on Friday, September 5th. Canaccord Genuity Group raised their price target on ServiceTitan from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Truist Financial set a $130.00 price objective on ServiceTitan in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.25.

Insider Activity at ServiceTitan

In related news, President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $92.03, for a total value of $1,508,187.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bessemer Venture Partners Viii sold 40,763 shares of ServiceTitan stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $101.37, for a total transaction of $4,132,145.31. Following the transaction, the insider directly owned 7,090,287 shares in the company, valued at $718,742,393.19. This represents a 0.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 397,165 shares of company stock worth $39,626,361. 51.72% of the stock is owned by company insiders.

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.