Sei Investments Co. Lowers Stake in ServiceTitan Inc. $TTAN

Sei Investments Co. cut its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 66.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,434 shares of the company’s stock after selling 105,018 shares during the quarter. Sei Investments Co. owned about 0.06% of ServiceTitan worth $3,327,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after purchasing an additional 439,079 shares during the period. Franklin Resources Inc. raised its holdings in ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after buying an additional 508,848 shares during the period. Artisan Partners Limited Partnership raised its holdings in ServiceTitan by 47.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after buying an additional 519,024 shares during the period. Greenoaks Capital Partners LLC lifted its position in ServiceTitan by 20.6% during the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after buying an additional 264,926 shares in the last quarter. Finally, Capital International Investors lifted its position in ServiceTitan by 23.9% during the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after buying an additional 236,287 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on TTAN shares. UBS Group reiterated a “buy” rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. BMO Capital Markets lifted their target price on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. TD Cowen upped their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. BTIG Research reiterated a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a report on Friday, July 10th. Finally, Truist Financial reissued a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan Trading Up 0.3%

Shares of TTAN stock opened at $85.83 on Friday. The firm has a fifty day simple moving average of $74.44 and a 200-day simple moving average of $70.02. The company has a market capitalization of $8.19 billion, a PE ratio of -59.19 and a beta of 0.02. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99.

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

Insider Buying and Selling at ServiceTitan

In related news, CEO Ara Mahdessian sold 38,287 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $84.89, for a total value of $3,250,183.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michele O’connor sold 4,910 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the transaction, the chief accounting officer directly owned 71,676 shares of the company’s stock, valued at $5,800,738.68. This represents a 6.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 384,717 shares of company stock valued at $27,426,649. Company insiders own 39.89% 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.