ServiceTitan Inc. $TTAN is Littlejohn & Co. LLC’s 7th Largest Position

Littlejohn & Co. LLC decreased its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 23.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,198 shares of the company’s stock after selling 42,646 shares during the quarter. ServiceTitan comprises 8.5% of Littlejohn & Co. LLC’s holdings, making the stock its 7th largest holding. Littlejohn & Co. LLC’s holdings in ServiceTitan were worth $9,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ServiceTitan by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after purchasing an additional 439,079 shares during the last quarter. Franklin Resources Inc. increased its position in shares of ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after purchasing an additional 508,848 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Greenoaks Capital Partners LLC raised its holdings in ServiceTitan by 20.6% in the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after buying an additional 264,926 shares during the period. Finally, Capital International Investors lifted its position in ServiceTitan by 23.9% in the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after buying an additional 236,287 shares during the last quarter.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $69.07 on Friday. The firm has a market capitalization of $6.59 billion, a PE ratio of -47.63 and a beta of 0.13. ServiceTitan Inc. has a 1 year low of $54.17 and a 1 year high of $119.99. The firm’s 50-day moving average is $70.44 and its two-hundred day moving average is $71.27.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $268.82 million during 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 business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 4,910 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the transaction, the chief accounting officer owned 71,676 shares in the company, valued at $5,800,738.68. The trade was a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 443,221 shares in the company, valued at $28,113,508.03. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 296,664 shares of company stock worth $19,958,797 over the last 90 days. 39.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. BMO Capital Markets boosted their target price on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. Robert W. Baird upped their price target on 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 raised their price target on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

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.