Shah Wealth Advisors LLC Buys Shares of 16,776 ServiceTitan Inc. $TTAN

Shah Wealth Advisors LLC purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,776 shares of the company’s stock, valued at approximately $1,186,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in ServiceTitan by 33.8% in the fourth 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 period. Artisan Partners Limited Partnership raised 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 buying an additional 519,024 shares in the last quarter. Greenoaks Capital Partners LLC raised its position in shares of ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after buying an additional 264,926 shares in the last quarter. Capital International Investors lifted its stake in shares of ServiceTitan by 23.9% in the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock worth $130,430,000 after acquiring an additional 236,287 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of ServiceTitan by 14.0% in the fourth quarter. Bamco Inc. NY now owns 1,096,931 shares of the company’s stock valued at $116,823,000 after acquiring an additional 134,313 shares in the last quarter.

Analyst Upgrades and Downgrades

TTAN has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, June 17th. BTIG Research reiterated a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a research report on Friday, July 10th. Morgan Stanley boosted their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Finally, Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.93.

ServiceTitan Stock Down 5.6%

NASDAQ:TTAN opened at $87.92 on Friday. The stock has a fifty day simple moving average of $84.09 and a 200 day simple moving average of $72.31. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of -60.63 and a beta of 0.11. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted 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 return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 38,287 shares of ServiceTitan stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total transaction of $3,250,183.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 9,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $90.83, for a total value of $817,470.00. Following the completion of the sale, the chief financial officer owned 386,757 shares of the company’s stock, valued at $35,129,138.31. The trade was a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 524,837 shares of company stock valued at $39,894,622 over the last three months. 39.89% of the stock is owned by insiders.

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.