US Bancorp DE Raises Position in ServiceTitan Inc. $TTAN

US Bancorp DE boosted its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 1,712.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,444 shares of the company’s stock after buying an additional 8,923 shares during the period. US Bancorp DE’s holdings in ServiceTitan were worth $952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTAN. Vanguard Group Inc. raised its holdings in shares of ServiceTitan by 538.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after acquiring an additional 1,569,136 shares during the last quarter. Invesco Ltd. grew its holdings in shares of ServiceTitan by 1,388.2% during the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after purchasing an additional 1,378,100 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after purchasing an additional 1,131,062 shares in the last quarter. Finally, Atreides Management LP bought a new position in shares of ServiceTitan in the second quarter worth approximately $68,679,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BTIG Research initiated coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 target price on the stock. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. BMO Capital Markets decreased their price target on shares of ServiceTitan from $125.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday. Morgan Stanley raised their price objective on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, December 5th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus target price of $132.06.

Insider Buying and Selling

In other ServiceTitan news, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $102.82, for a total value of $1,685,014.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David Sherry sold 11,672 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the completion of the transaction, the chief financial officer owned 331,781 shares in the company, valued at $34,936,539.30. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 216,371 shares of company stock valued at $22,700,994 over the last quarter. Company insiders own 51.72% of the company’s stock.

ServiceTitan Stock Up 6.0%

Shares of NASDAQ:TTAN opened at $82.95 on Friday. The stock has a market capitalization of $7.77 billion, a P/E ratio of -20.33 and a beta of -0.72. The stock’s 50-day moving average price is $82.34 and its 200-day moving average price is $94.51. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a 12-month low of $58.01 and a 12-month high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.ServiceTitan’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. On average, equities analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current 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.