NZS Capital LLC Raises Stake in ServiceTitan Inc. $TTAN

NZS Capital LLC increased its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 44.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 341,747 shares of the company’s stock after purchasing an additional 105,944 shares during the quarter. NZS Capital LLC’s holdings in ServiceTitan were worth $34,458,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Woodline Partners LP boosted its position in shares of ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares during the period. PNC Financial Services Group Inc. grew its position in ServiceTitan by 16.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock valued at $87,000 after acquiring an additional 119 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in ServiceTitan during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. increased its stake in ServiceTitan by 1,005.1% during the second 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 period. Finally, Whittier Trust Co. acquired a new stake in shares of ServiceTitan during the third quarter worth about $52,000.

Insiders Place Their Bets

In other ServiceTitan news, CFO David Sherry sold 833 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $91.30, for a total transaction of $76,052.90. Following the sale, the chief financial officer owned 330,948 shares of the company’s stock, valued at approximately $30,215,552.40. This trade represents a 0.25% decrease in their ownership of the stock. 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 32,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total transaction of $3,152,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,371 shares of company stock worth $22,700,994 over the last 90 days. Insiders own 51.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTAN has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. BMO Capital Markets raised their price target on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. BTIG Research assumed coverage on ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

ServiceTitan Price Performance

Shares of TTAN opened at $75.78 on Wednesday. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -18.57 and a beta of -0.72. The firm’s fifty day simple moving average is $84.06 and its 200-day simple moving average is $94.92. ServiceTitan Inc. has a twelve month low of $58.01 and a twelve month high of $131.33. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last posted 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 firm had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.ServiceTitan’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 earnings per share. Equities analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

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.