ServiceTitan Inc. $TTAN Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 33.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,014,025 shares of the company’s stock after acquiring an additional 508,848 shares during the quarter. Franklin Resources Inc. owned approximately 2.15% of ServiceTitan worth $214,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after acquiring an additional 3,735,968 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of ServiceTitan during the 3rd quarter valued at about $8,338,000. Sandhill Capital Partners LLC acquired a new position in shares of ServiceTitan during the 3rd quarter valued at about $27,062,000. Renaissance Capital LLC boosted its position in shares of ServiceTitan by 222.8% during the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after acquiring an additional 28,454 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of ServiceTitan during the 3rd quarter valued at about $84,983,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley upped their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company decreased their target price on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group decreased their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. The Goldman Sachs Group decreased their target price on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.53.

Insider Buying and Selling at ServiceTitan

In other news, CAO Michele O’connor sold 5,000 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $58.93, for a total transaction of $294,650.00. Following the sale, the chief accounting officer owned 79,416 shares of the company’s stock, valued at approximately $4,679,984.88. This represents a 5.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $159,839.68. Following the sale, the chief executive officer directly owned 1 shares in the company, valued at $69.86. This represents a 99.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,440 shares of company stock worth $2,281,468 over the last ninety days. Company insiders own 39.89% of the company’s stock.

ServiceTitan Price Performance

NASDAQ TTAN opened at $70.71 on Wednesday. The firm’s 50-day moving average is $63.64 and its two-hundred day moving average is $77.79. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99. The stock has a market capitalization of $6.74 billion, a P/E ratio of -48.77 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results 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. The business had revenue of $268.82 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, analysts anticipate that ServiceTitan Inc. will post -0.62 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.