ServiceTitan Inc. $TTAN Shares Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership boosted its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 47.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,617,353 shares of the company’s stock after buying an additional 519,024 shares during the period. Artisan Partners Limited Partnership’s holdings in ServiceTitan were worth $172,248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TTAN. Woodline Partners LP lifted its position in shares of ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of ServiceTitan in the 2nd quarter valued at approximately $345,000. Russell Investments Group Ltd. purchased a new stake in shares of ServiceTitan in the 2nd quarter valued at approximately $500,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of ServiceTitan in the 2nd quarter valued at approximately $393,000.

ServiceTitan Stock Performance

ServiceTitan stock opened at $66.57 on Wednesday. The firm has a market cap of $6.35 billion, a PE ratio of -45.91 and a beta of 0.13. The firm’s 50 day moving average price is $64.23 and its two-hundred day moving average price is $77.10. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 company had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same quarter in the prior year, the business posted $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TTAN. BMO Capital Markets upped their price target on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research report on Wednesday, May 27th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Canaccord Genuity Group reduced their price target on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Wells Fargo & Company reduced their price target on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Fifteen 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

Insider Activity at ServiceTitan

In other news, CAO Michele O’connor sold 10,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the transaction, the chief accounting officer owned 81,890 shares in the company, valued at $5,661,874.60. This represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 39.89% of the stock is currently owned by company insiders.

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.