WINTON GROUP Ltd Acquires New Holdings in ServiceTitan Inc. $TTAN

WINTON GROUP Ltd bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 73,800 shares of the company’s stock, valued at approximately $5,218,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the period. State of Wyoming purchased a new position in shares of ServiceTitan during the 1st quarter valued at $48,000. Sunbelt Securities Inc. increased its holdings in shares of ServiceTitan by 391.0% in the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after purchasing an additional 391 shares during the period. Parallel Advisors LLC increased its holdings in shares of ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after purchasing an additional 325 shares during the period. Finally, Elevation Wealth Partners LLC raised its position in shares of ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after buying an additional 144 shares in the last quarter.

ServiceTitan Trading Down 1.9%

Shares of ServiceTitan stock opened at $56.01 on Friday. The firm has a market capitalization of $5.34 billion, a PE ratio of -41.18 and a beta of 0.11. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.60. The business’s 50-day moving average price is $83.88 and its 200-day moving average price is $72.55.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.ServiceTitan’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other news, CEO Ara Mahdessian sold 51,947 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the insider owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 514,837 shares of company stock worth $39,203,222 in the last 90 days. Corporate insiders own 39.89% of the company’s stock.

Key Stories Impacting ServiceTitan

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported fiscal Q2 revenue of $292.8 million, up 21% year over year, and earnings of $0.40 per share versus the $0.35 consensus estimate. Record non-GAAP free cash flow of $50.5 million and a 15.2% non-GAAP operating margin also highlighted improving profitability. ServiceTitan Bets on Max Despite Near-Term Headwinds
• Positive Sentiment: Several analysts retained bullish ratings following the selloff. BTIG reaffirmed a Buy rating with a $110 target, while Piper Sandler, KeyCorp, Stifel, BMO Capital Markets and Robert W. Baird maintained positive ratings despite reducing their targets. These targets imply substantial potential upside if growth and the Max strategy gain traction.
• Neutral Sentiment: ServiceTitan’s Max product is gaining adoption and is viewed by some analysts as a potential long-term growth driver, but investors are weighing that opportunity against the transition’s effect on near-term revenue and services revenue. ServiceTitan Q2 Was No Disaster, But Not Enough For an Upgrade
• Neutral Sentiment: Reported short-interest data showed zero shares and a zero-day short-interest ratio, but the figures also contained an “NaN” change indicator, making the data unreliable and unlikely to provide a meaningful trading signal.
• Negative Sentiment: The stock fell even after the earnings beat because the outlook was viewed as underwhelming. ServiceTitan indicated that the shift toward Max could reduce professional-services revenue by approximately $2 million over the remainder of the fiscal year, while reports said the third-quarter revenue forecast fell short of expectations. Why ServiceTitan Stock Is Diving After Earnings Beat
• Negative Sentiment: Citigroup cut its price target to $76 from $83 and kept a Neutral rating. Other firms also lowered targets, signaling reduced near-term expectations even where Buy, Outperform or Overweight ratings were maintained.
• Negative Sentiment: Holzer & Holzer and the Law Offices of Frank R. Cruz announced investigations into potential securities-law violations following the earnings disclosure and the subsequent share-price decline. The investigations are allegations and do not establish wrongdoing. TTAN Investor Alert

Wall Street Analyst Weigh In

TTAN has been the subject of several research analyst reports. Weiss Ratings raised ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Canaccord Genuity Group decreased their target price on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen lowered their price target on ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley dropped their price target on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, KeyCorp cut their price objective on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Company Profile

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.