OMERS ADMINISTRATION Corp Sells 6,200 Shares of ServiceTitan Inc. $TTAN

OMERS ADMINISTRATION Corp reduced its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 66.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,200 shares of the company’s stock after selling 6,200 shares during the period. OMERS ADMINISTRATION Corp’s holdings in ServiceTitan were worth $203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp grew its holdings in ServiceTitan by 150.0% during the 4th 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 period. Farther Finance Advisors LLC lifted its stake in shares of ServiceTitan by 189.1% in the 4th 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. eCIO Inc. acquired a new position in shares of ServiceTitan in the 4th quarter valued at $30,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after purchasing an additional 391 shares during the last quarter.

Insider Activity

In other news, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 443,221 shares of the company’s stock, valued at $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 51,947 shares of the company’s stock in a transaction dated 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. In the last 90 days, insiders have sold 296,664 shares of company stock worth $19,958,797. 39.89% of the stock is currently owned by insiders.

ServiceTitan Stock Performance

Shares of TTAN opened at $83.06 on Friday. The firm has a market cap of $7.92 billion, a P/E ratio of -57.28 and a beta of 0.13. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The firm’s 50 day moving average price is $72.44 and its two-hundred day moving average price is $70.42.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TTAN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. TD Cowen raised their target price on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Truist Financial restated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research note on Wednesday, May 27th. Finally, Piper Sandler increased their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

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.