Elevation Point Wealth Partners LLC Raises Stock Position in ServiceTitan Inc. $TTAN

Elevation Point Wealth Partners LLC grew its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 288.5% in the 1st quarter, Holdings Channel reports. The firm owned 17,299 shares of the company’s stock after purchasing an additional 12,846 shares during the period. Elevation Point Wealth Partners LLC’s holdings in ServiceTitan were worth $1,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio increased its position in shares of ServiceTitan by 90.5% during the first quarter. Strs Ohio now owns 66,300 shares of the company’s stock valued at $4,207,000 after buying an additional 31,500 shares during the period. Keybank National Association OH boosted its position in ServiceTitan by 67.6% during the 1st quarter. Keybank National Association OH now owns 9,076 shares of the company’s stock valued at $576,000 after acquiring an additional 3,662 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in ServiceTitan by 56.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 80,285 shares of the company’s stock valued at $5,095,000 after acquiring an additional 28,829 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of ServiceTitan by 143.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 8,608 shares of the company’s stock worth $546,000 after acquiring an additional 5,075 shares during the period. Finally, Xcel Wealth Management LLC raised its position in shares of ServiceTitan by 264.6% in the 1st quarter. Xcel Wealth Management LLC now owns 9,754 shares of the company’s stock worth $619,000 after acquiring an additional 7,079 shares in the last quarter.

Insider Activity at ServiceTitan

In other news, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the transaction, the director owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Byron B. Deeter sold 8,845 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the completion of the transaction, the director owned 13,782 shares of the company’s stock, valued at approximately $873,089.70. The trade was a 39.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 244,807 shares of company stock worth $15,649,413 in the last ninety days. 39.89% of the stock is currently owned by company insiders.

ServiceTitan Stock Up 1.7%

TTAN stock opened at $79.09 on Tuesday. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The firm has a market cap of $7.55 billion, a PE ratio of -54.54 and a beta of 0.13. The business has a 50 day moving average of $66.29 and a 200 day moving average of $74.08.

ServiceTitan (NASDAQ:TTAN) last released its 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 return on equity of 5.59% and a negative net margin of 13.44%.The business had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TTAN shares. BTIG Research raised their target price on ServiceTitan from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. The Goldman Sachs Group lowered their price objective on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. BMO Capital Markets boosted their target price on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Finally, Wells Fargo & Company reduced their target price on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock 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.