ServiceTitan Inc. $TTAN Stake Boosted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 6.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 905,704 shares of the company’s stock after acquiring an additional 55,251 shares during the period. ServiceTitan comprises 1.3% of TimesSquare Capital Management LLC’s holdings, making the stock its 23rd largest position. TimesSquare Capital Management LLC’s holdings in ServiceTitan were worth $91,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TTAN. Truist Financial Corp grew its holdings in ServiceTitan by 84.3% in the 3rd quarter. Truist Financial Corp now owns 42,789 shares of the company’s stock worth $4,314,000 after buying an additional 19,577 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of ServiceTitan in the third quarter worth $5,376,000. Robeco Institutional Asset Management B.V. bought a new position in shares of ServiceTitan in the third quarter worth $941,000. Quantbot Technologies LP acquired a new position in shares of ServiceTitan during the second quarter valued at $19,146,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of ServiceTitan during the third quarter valued at about $27,101,000.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $62.74 on Friday. The company has a market capitalization of $5.88 billion, a PE ratio of -15.38 and a beta of -0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The stock has a fifty day moving average of $93.53 and a 200-day moving average of $98.41. ServiceTitan Inc. has a one year low of $58.01 and a one year high of $131.33.

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

Insiders Place Their Bets

In related news, CFO David Sherry sold 833 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $91.30, for a total transaction of $76,052.90. Following the completion of the sale, the chief financial officer directly owned 330,948 shares in the company, valued at approximately $30,215,552.40. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michele O’connor sold 1,678 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $176,693.40. Following the completion of the transaction, the chief accounting officer owned 89,571 shares in the company, valued at approximately $9,431,826.30. This represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 217,204 shares of company stock valued at $22,772,799. 51.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on TTAN shares. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. BTIG Research assumed coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They set a “buy” rating and a $130.00 price objective on the stock. BMO Capital Markets upped their target price on ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Morgan Stanley lifted their price target on ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, December 5th. Finally, Truist Financial set a $130.00 price objective on ServiceTitan in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and an average price target of $133.13.

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.