Robeco Schweiz AG Takes $6.20 Million Position in ServiceTitan Inc. $TTAN

Robeco Schweiz AG bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 61,500 shares of the company’s stock, valued at approximately $6,201,000.

Several other institutional investors also recently made changes to their positions in TTAN. Invesco Ltd. raised its position in shares of ServiceTitan by 1,388.2% in the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after buying an additional 1,378,100 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of ServiceTitan by 300,996.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company’s stock worth $141,995,000 after purchasing an additional 1,324,383 shares during the period. Franklin Resources Inc. increased its position in ServiceTitan by 148.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares in the last quarter. Atreides Management LP purchased a new position in ServiceTitan in the second quarter valued at approximately $68,679,000. Finally, Balyasny Asset Management L.P. lifted its position in ServiceTitan by 869.9% during the second quarter. Balyasny Asset Management L.P. now owns 568,530 shares of the company’s stock valued at $60,935,000 after buying an additional 509,912 shares in the last quarter.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $101.51 on Wednesday. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The business has a 50 day moving average price of $99.01 and a two-hundred day moving average price of $103.74. The firm has a market cap of $9.51 billion and a PE ratio of -24.88.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. The company had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Sell-side analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CEO Ara Mahdessian sold 3,038 shares of ServiceTitan stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $319,901.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michele O’connor sold 1,678 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total value of $176,693.40. Following the sale, the chief accounting officer owned 89,571 shares in the company, valued at $9,431,826.30. The trade was a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 323,910 shares of company stock worth $32,324,141. Company insiders own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TTAN shares. Canaccord Genuity Group increased their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wells Fargo & Company increased their price target on ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Truist Financial set a $130.00 price objective on ServiceTitan in a research note on Tuesday, October 21st. BTIG Research assumed coverage on ServiceTitan in a report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. Finally, UBS Group restated a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.31.

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.