GW&K Investment Management LLC Sells 9,667 Shares of ServiceTitan Inc. $TTAN

GW&K Investment Management LLC trimmed its position in ServiceTitan Inc. (NASDAQ:TTAN) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 355,159 shares of the company’s stock after selling 9,667 shares during the quarter. GW&K Investment Management LLC owned approximately 0.38% of ServiceTitan worth $37,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Woodline Partners LP boosted its position in ServiceTitan by 4.6% during the first 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. boosted its position in ServiceTitan by 16.1% during the third quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock worth $87,000 after purchasing an additional 119 shares during the period. Toth Financial Advisory Corp boosted its position in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Farther Finance Advisors LLC boosted its position in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after purchasing an additional 209 shares during the period.

ServiceTitan Stock Up 1.0%

NASDAQ TTAN opened at $71.39 on Thursday. The company has a market capitalization of $6.80 billion, a P/E ratio of -49.23 and a beta of 0.13. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99. The firm has a 50-day moving average price of $63.86 and a two-hundred day moving average price of $77.69.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities analysts expect that ServiceTitan Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 2,288 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the transaction, the chief executive officer owned 1 shares in the company, valued at approximately $69.86. This trade represents a 99.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the completion of the transaction, the chief accounting officer owned 81,890 shares in the company, valued at $5,661,874.60. The trade was a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,440 shares of company stock worth $2,972,868 over the last three months. Company insiders own 39.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TTAN. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday. The Goldman Sachs Group lowered their target price on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Morgan Stanley increased their target price on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. TD Cowen increased their target price on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan 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.