D.A. Davidson & CO. Makes New Investment in ServiceTitan Inc. $TTAN

D.A. Davidson & CO. acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 132,390 shares of the company’s stock, valued at approximately $8,401,000. D.A. Davidson & CO. owned 0.14% of ServiceTitan at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TTAN. Woodline Partners LP grew its stake 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. Toth Financial Advisory Corp boosted its position in ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC boosted its position in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in ServiceTitan by 21.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,042 shares of the company’s stock valued at $111,000 after buying an additional 184 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after buying an additional 209 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. TD Cowen upped their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, June 5th. BMO Capital Markets increased their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. Robert W. Baird raised their target price on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Morgan Stanley boosted their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Stock Up 0.7%

TTAN stock opened at $76.00 on Friday. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The firm has a 50-day simple moving average of $69.23 and a 200-day simple moving average of $72.44. The stock has a market capitalization of $7.25 billion, a P/E ratio of -52.41 and a beta of 0.13.

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

Insider Activity

In other news, CAO Michele O’connor sold 4,910 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the completion of the sale, the chief accounting officer owned 71,676 shares of the company’s stock, valued at $5,800,738.68. This represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara Mahdessian sold 51,947 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 296,664 shares of company stock valued at $19,958,797 in the last three months. Company insiders own 39.89% of the company’s stock.

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.