793,636 Shares in ServiceTitan Inc. $TTAN Bought by Madison Asset Management LLC

Madison Asset Management LLC bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 793,636 shares of the company’s stock, valued at approximately $56,118,000. Madison Asset Management LLC owned approximately 0.83% of ServiceTitan at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTAN. First Bank & Trust boosted its holdings in ServiceTitan by 24.2% in the second quarter. First Bank & Trust now owns 4,426 shares of the company’s stock worth $313,000 after acquiring an additional 862 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after acquiring an additional 144 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of ServiceTitan by 1.5% during the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock valued at $49,724,000 after acquiring an additional 11,362 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of ServiceTitan by 75.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after acquiring an additional 680 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of ServiceTitan by 196.7% in the 1st quarter. California State Teachers Retirement System now owns 63,324 shares of the company’s stock valued at $4,019,000 after purchasing an additional 41,983 shares during the last quarter.

ServiceTitan Trading Up 4.3%

Shares of NASDAQ:TTAN opened at $95.02 on Thursday. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99. The business has a 50 day moving average of $77.12 and a two-hundred day moving average of $69.92. The company has a market capitalization of $9.06 billion, a PE ratio of -65.53 and a beta of 0.02.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen lifted their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Piper Sandler upped their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a report on Wednesday, May 27th. BMO Capital Markets lifted their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. Finally, Citigroup reissued a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Fourteen 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $108.93.

Insiders Place Their Bets

In other news, Director William J.G. Griffith sold 94,415 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Sherry sold 20,192 shares of ServiceTitan stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $1,336,508.48. Following the completion of the transaction, the chief financial officer owned 398,033 shares of the company’s stock, valued at approximately $26,345,804.27. This represents a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 524,837 shares of company stock valued at $39,894,622. Insiders own 39.89% of the company’s stock.

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.