ServiceTitan Inc. $TTAN Shares Purchased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lifted its position in ServiceTitan Inc. (NASDAQ:TTAN) by 50.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 124,159 shares of the company’s stock after acquiring an additional 41,467 shares during the period. Thornburg Investment Management Inc.’s holdings in ServiceTitan were worth $13,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Woodline Partners LP boosted its stake in shares of ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after acquiring an additional 95 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ServiceTitan by 16.1% in the third quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock worth $87,000 after acquiring an additional 119 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in ServiceTitan by 150.0% during 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 ServiceTitan by 189.1% during 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. Finally, EverSource Wealth Advisors LLC boosted its stake in ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after buying an additional 209 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 2,288 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the transaction, the chief executive officer owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Sherry sold 17,778 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the transaction, the chief financial officer directly owned 313,025 shares in the company, valued at approximately $21,867,926.50. This trade represents a 5.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 43,440 shares of company stock worth $2,972,868. Company insiders own 39.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird boosted their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. BTIG Research boosted their price objective on ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $66.77 on Monday. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The stock’s fifty day moving average is $64.04 and its two-hundred day moving average is $77.40. The firm has a market capitalization of $6.37 billion, a P/E ratio of -46.05 and a beta of 0.12.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS 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 analyst estimates of $257.40 million. During the same quarter in the prior year, the company posted $0.18 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current year.

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.