Janus Henderson Group PLC Raises Stock Position in ServiceTitan Inc. $TTAN

Janus Henderson Group PLC lifted its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 783,560 shares of the company’s stock after buying an additional 11,362 shares during the period. Janus Henderson Group PLC’s holdings in ServiceTitan were worth $49,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Woodline Partners LP lifted its holdings in shares of ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares during the last quarter. Toth Financial Advisory Corp increased 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 acquiring an additional 150 shares during the last quarter. Farther Finance Advisors LLC raised its position in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the period. PNC Financial Services Group Inc. raised its position in ServiceTitan by 21.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,042 shares of the company’s stock valued at $111,000 after purchasing an additional 184 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after purchasing an additional 209 shares during the period.

Insider Activity at ServiceTitan

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the insider directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This trade represents a 17.56% 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. Also, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 296,664 shares of company stock worth $19,958,797 over the last quarter. 39.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TTAN has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a report on Wednesday, June 17th. BMO Capital Markets increased their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Piper Sandler raised their price target on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Robert W. Baird lifted their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, TD Cowen boosted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Fifteen investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $83.06 on Friday. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The business has a 50 day simple moving average of $72.44 and a two-hundred day simple moving average of $70.42. The firm has a market capitalization of $7.92 billion, a PE ratio of -57.28 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal 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.