Franklin Resources Inc. Grows Position in ServiceTitan Inc. $TTAN

Franklin Resources Inc. increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 33.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,014,025 shares of the company’s stock after buying an additional 508,848 shares during the period. Franklin Resources Inc.’s holdings in ServiceTitan were worth $214,494,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp increased its stake in shares of 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 period. Farther Finance Advisors LLC increased its stake in shares of 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 period. eCIO Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter worth approximately $30,000. Elevation Wealth Partners LLC purchased a new stake in shares of ServiceTitan during the fourth quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares during the period.

Analyst Ratings Changes

A number of analysts recently weighed in on TTAN shares. Piper Sandler upped their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Morgan Stanley upped their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. William Blair restated an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Finally, Citigroup restated a “neutral” rating on shares of ServiceTitan in a research note on Monday. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

Insider Activity at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 17,778 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 313,025 shares in the company, valued at $21,867,926.50. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $159,839.68. Following the completion of the transaction, the chief executive officer owned 1 shares in the company, valued at $69.86. This represents a 99.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,440 shares of company stock valued at $2,281,468. Company insiders own 39.89% of the company’s stock.

ServiceTitan Stock Down 3.1%

Shares of ServiceTitan stock opened at $70.71 on Wednesday. The firm has a market capitalization of $6.74 billion, a P/E ratio of -48.77 and a beta of 0.13. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The firm’s 50 day moving average is $63.64 and its two-hundred day moving average is $77.79.

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. The company had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, research analysts expect that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal 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.