First Trust Advisors LP Purchases 644,068 Shares of ServiceTitan Inc. $TTAN

First Trust Advisors LP boosted its position in ServiceTitan Inc. (NASDAQ:TTAN) by 2,401.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 670,883 shares of the company’s stock after purchasing an additional 644,068 shares during the period. First Trust Advisors LP owned about 0.72% of ServiceTitan worth $67,645,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cloud Capital Management LLC bought a new position in shares of ServiceTitan in the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. grew its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the period. Whittier Trust Co. purchased a new stake in ServiceTitan during the third quarter valued at approximately $52,000. PNC Financial Services Group Inc. purchased a new stake in ServiceTitan during the second quarter valued at approximately $79,000. Finally, EverSource Wealth Advisors LLC bought a new position in ServiceTitan in the second quarter worth approximately $94,000.

ServiceTitan Stock Performance

TTAN opened at $77.90 on Wednesday. The company has a 50 day simple moving average of $81.21 and a two-hundred day simple moving average of $94.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The firm has a market cap of $7.30 billion, a P/E ratio of -19.09 and a beta of -0.72. ServiceTitan Inc. has a 1-year low of $58.01 and a 1-year high of $131.33.

Insider Activity

In other ServiceTitan news, CAO Michele O’connor sold 1,678 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the sale, the chief accounting officer owned 89,571 shares in the company, valued at approximately $9,431,826.30. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,846 shares of company stock worth $13,179,245 in the last quarter. Corporate insiders own 51.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTAN has been the topic of several analyst reports. BTIG Research initiated coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They set a “buy” rating and a $130.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. The Goldman Sachs Group assumed coverage on ServiceTitan in a research report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 target price on the stock. Piper Sandler cut their price target on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.06.

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.