Fifth Third Bancorp Buys Shares of 28,258 ServiceTitan Inc. $TTAN

Fifth Third Bancorp bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) during the first quarter, HoldingsChannel.com reports. The fund bought 28,258 shares of the company’s stock, valued at approximately $1,793,000.

A number of other hedge funds have also recently modified their holdings of the business. Taylor Frigon Capital Management LLC lifted its position in shares of ServiceTitan by 36.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 36,400 shares of the company’s stock worth $2,310,000 after purchasing an additional 9,632 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in ServiceTitan by 81.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 56,475 shares of the company’s stock worth $3,558,000 after buying an additional 25,374 shares during the period. Whittier Trust Co. increased its stake in ServiceTitan by 77.5% in the 1st quarter. Whittier Trust Co. now owns 107,770 shares of the company’s stock worth $6,791,000 after buying an additional 47,046 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in ServiceTitan in the 1st quarter worth about $1,529,000. Finally, Elevation Point Wealth Partners LLC lifted its holdings in ServiceTitan by 288.5% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 17,299 shares of the company’s stock valued at $1,098,000 after buying an additional 12,846 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTAN. BTIG Research reissued a “buy” rating and issued a $110.00 price objective on shares of ServiceTitan in a research report on Friday, July 10th. 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 research report on Monday, June 8th. Piper Sandler lifted their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. UBS Group reiterated a “buy” rating on shares of ServiceTitan in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.53.

Insider Buying and Selling

In other news, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total value of $691,400.00. Following the sale, the chief accounting officer directly owned 81,890 shares in the company, valued at approximately $5,661,874.60. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Sherry sold 20,192 shares of ServiceTitan stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the completion of the transaction, the chief financial officer directly owned 398,033 shares in the company, valued at approximately $26,345,804.27. The trade was a 4.83% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 296,664 shares of company stock valued at $19,958,797 over the last three months. Corporate insiders own 39.89% of the company’s stock.

ServiceTitan Trading Down 4.2%

Shares of NASDAQ TTAN opened at $69.90 on Thursday. The stock has a market capitalization of $6.67 billion, a PE ratio of -48.21 and a beta of 0.13. The stock’s fifty day simple moving average is $70.20 and its two-hundred day simple moving average is $71.50. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released 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. The firm 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%.The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

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.