Park Avenue Securities LLC Makes New Investment in ServiceTitan Inc. $TTAN

Park Avenue Securities LLC bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,696 shares of the company’s stock, valued at approximately $675,000.

Other large investors have also made changes to their positions in the company. Woodline Partners LP lifted its holdings in ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after purchasing an additional 95 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 buying an additional 392 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of ServiceTitan in the second quarter valued at approximately $79,000. Geode Capital Management LLC raised its stake in shares of ServiceTitan by 0.5% in the second quarter. Geode Capital Management LLC now owns 160,975 shares of the company’s stock valued at $17,258,000 after acquiring an additional 848 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of ServiceTitan by 251.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,195 shares of the company’s stock worth $128,000 after acquiring an additional 855 shares in the last quarter.

ServiceTitan Trading Down 4.5%

Shares of TTAN opened at $96.99 on Thursday. The stock’s fifty day simple moving average is $99.11 and its 200-day simple moving average is $103.69. The firm has a market capitalization of $9.08 billion and a PE ratio of -23.77. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $131.33. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 11,672 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the completion of the sale, the chief financial officer owned 331,781 shares in the company, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Michele O’connor sold 1,678 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the transaction, the chief accounting officer owned 89,571 shares in the company, valued at $9,431,826.30. This represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 323,910 shares of company stock valued at $32,324,141. 51.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. The Goldman Sachs Group began coverage on ServiceTitan in a research note on Tuesday. They issued a “neutral” rating and a $117.00 target price for the company. BTIG Research initiated coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.31.

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.