Victory Capital Management Inc. Has $12.31 Million Stock Position in ServiceTitan Inc. $TTAN

Victory Capital Management Inc. cut its position in ServiceTitan Inc. (NASDAQ:TTAN) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,093 shares of the company’s stock after selling 20,484 shares during the period. Victory Capital Management Inc. owned 0.13% of ServiceTitan worth $12,311,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Woodline Partners LP raised its stake in shares of ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in ServiceTitan by 1,247.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 84,704 shares of the company’s stock valued at $9,079,000 after purchasing an additional 78,416 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in ServiceTitan in the 2nd quarter valued at $79,000. Geode Capital Management LLC boosted its stake in ServiceTitan by 0.5% in the second quarter. Geode Capital Management LLC now owns 160,975 shares of the company’s stock worth $17,258,000 after purchasing an additional 848 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in ServiceTitan in the second quarter worth $874,000.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 11,672 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total value of $1,229,061.60. Following the transaction, the chief financial officer directly owned 331,781 shares of the company’s stock, valued at approximately $34,936,539.30. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michele O’connor sold 1,678 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $176,693.40. Following the sale, the chief accounting officer owned 89,571 shares of the company’s stock, valued at $9,431,826.30. The trade was a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 85,180 shares of company stock valued at $8,620,383. 51.72% of the stock is currently owned by corporate insiders.

ServiceTitan Stock Up 0.8%

Shares of NASDAQ TTAN opened at $78.49 on Thursday. ServiceTitan Inc. has a 1 year low of $58.01 and a 1 year high of $131.33. The firm’s 50-day moving average is $80.65 and its 200-day moving average is $93.93. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $7.35 billion, a PE ratio of -19.24 and a beta of -0.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TTAN shares. UBS Group restated a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. The Goldman Sachs Group started coverage on shares of ServiceTitan in a research note on Tuesday, January 13th. They issued a “neutral” rating and a $117.00 target price for the company. BTIG Research began coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.06.

About ServiceTitan

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.