ServiceTitan (NASDAQ:TTAN) Director Byron Deeter Sells 8,845 Shares

ServiceTitan Inc. (NASDAQ:TTAN) Director Byron Deeter sold 8,845 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total transaction of $560,330.75. Following the transaction, the director owned 13,782 shares in the company, valued at approximately $873,089.70. The trade was a 39.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

ServiceTitan Price Performance

Shares of NASDAQ TTAN traded down $1.63 during mid-day trading on Thursday, hitting $63.40. The company’s stock had a trading volume of 1,444,872 shares, compared to its average volume of 1,396,327. ServiceTitan Inc. has a one year low of $54.17 and a one year high of $119.99. The company’s fifty day simple moving average is $64.70 and its 200-day simple moving average is $75.96. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -43.72 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same period in the previous year, the firm posted $0.18 earnings per share. ServiceTitan’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, sell-side analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On ServiceTitan

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after purchasing an additional 3,735,968 shares in the last quarter. Thornburg Investment Management Inc. bought a new position in shares of ServiceTitan during the third quarter worth about $8,338,000. Sandhill Capital Partners LLC acquired a new stake in ServiceTitan in the 3rd quarter valued at approximately $27,062,000. Renaissance Capital LLC lifted its stake in ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after acquiring an additional 28,454 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in ServiceTitan during the 3rd quarter worth approximately $84,983,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TTAN. BTIG Research upped their price objective on ServiceTitan from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, June 5th. Wells Fargo & Company cut their price target 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. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. TD Cowen upped their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

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.