Massachusetts Financial Services Co. MA Cuts Position in ServiceTitan Inc. $TTAN

Massachusetts Financial Services Co. MA lessened its position in ServiceTitan Inc. (NASDAQ:TTAN) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 708,661 shares of the company’s stock after selling 13,772 shares during the period. Massachusetts Financial Services Co. MA’s holdings in ServiceTitan were worth $71,454,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings 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 in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of ServiceTitan during the 2nd quarter valued at about $79,000. EverSource Wealth Advisors LLC bought a new stake in ServiceTitan in the 2nd quarter worth approximately $94,000. Lazard Asset Management LLC bought a new stake in ServiceTitan in the 2nd quarter worth approximately $99,000. Finally, RiverPark Advisors LLC purchased a new stake in ServiceTitan in the second quarter worth approximately $104,000.

ServiceTitan Stock Down 1.3%

Shares of ServiceTitan stock opened at $89.59 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan Inc. has a 52-week low of $79.81 and a 52-week high of $131.33. The company’s 50 day moving average price is $98.87 and its 200-day moving average price is $103.13. The stock has a market capitalization of $8.39 billion and a price-to-earnings ratio of -21.96.

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

Analysts Set New Price Targets

Several research firms have commented on TTAN. The Goldman Sachs Group started coverage on shares of ServiceTitan in a research note on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price target on the stock. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. Cowen reiterated a “buy” rating on shares of ServiceTitan in a research report on Friday, December 5th. BTIG Research initiated coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price target for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. One 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 assigned a Sell rating to the company. According to MarketBeat, ServiceTitan has a consensus rating of “Moderate Buy” and a consensus target price of $135.31.

Insider Activity

In other news, President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $102.82, for a total transaction of $1,685,014.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara Mahdessian sold 88,525 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $107.56, for a total value of $9,521,749.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 354,224 shares of company stock valued at $35,316,418. Insiders own 51.72% of the company’s stock.

ServiceTitan 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.