Oppenheimer & Co. Inc. Reduces Position in ServiceTitan Inc. $TTAN

Oppenheimer & Co. Inc. cut its position in ServiceTitan Inc. (NASDAQ:TTAN) by 69.6% during the fourth quarter, HoldingsChannel reports. The firm owned 220,173 shares of the company’s stock after selling 503,668 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ServiceTitan were worth $23,448,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of ServiceTitan by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after purchasing an additional 439,079 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of ServiceTitan by 118.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after purchasing an additional 1,569,136 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of ServiceTitan by 116.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock valued at $110,745,000 after purchasing an additional 591,213 shares during the last quarter. Capital International Investors increased its position in shares of ServiceTitan by 0.7% in the 3rd quarter. Capital International Investors now owns 988,412 shares of the company’s stock valued at $99,662,000 after purchasing an additional 7,237 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of ServiceTitan by 2.9% in the 3rd quarter. Bamco Inc. NY now owns 962,618 shares of the company’s stock valued at $97,061,000 after purchasing an additional 27,230 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TTAN shares. Morgan Stanley dropped their price objective on shares of ServiceTitan from $131.00 to $118.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Wells Fargo & Company dropped their price objective on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. The Goldman Sachs Group dropped their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Finally, BTIG Research dropped their price objective on shares of ServiceTitan from $130.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and an average target price of $112.31.

ServiceTitan Trading Down 0.7%

Shares of ServiceTitan stock opened at $59.46 on Friday. The company has a fifty day simple moving average of $66.39 and a 200-day simple moving average of $83.07. ServiceTitan Inc. has a 12-month low of $55.23 and a 12-month high of $131.33. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of -34.57 and a beta of -0.14.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The business had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $245.47 million. During the same quarter in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, analysts forecast that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other news, CFO David Sherry sold 17,778 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the transaction, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $224,949.20. Following the sale, the president owned 1 shares of the company’s stock, valued at approximately $69.86. This represents a 99.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 33,440 shares of company stock worth $2,281,468. Corporate insiders own 51.72% 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.