Invesco Ltd. Buys Shares of 200,000 ServiceTitan Inc. (NASDAQ:TTAN)

Invesco Ltd. acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $20,574,000. Invesco Ltd. owned approximately 0.26% of ServiceTitan as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in shares of ServiceTitan during the fourth quarter valued at about $25,365,000. New York State Common Retirement Fund bought a new stake in ServiceTitan during the 4th quarter valued at $3,692,000. TimesSquare Capital Management LLC purchased a new stake in ServiceTitan during the 4th quarter valued at $87,896,000. SBI Securities Co. Ltd. purchased a new position in shares of ServiceTitan in the fourth quarter valued at about $26,000. Finally, Victory Capital Management Inc. purchased a new position in shares of ServiceTitan in the fourth quarter valued at about $10,450,000.

ServiceTitan Stock Performance

TTAN traded up $3.20 during midday trading on Thursday, reaching $124.23. The company's stock had a trading volume of 308,511 shares, compared to its average volume of 379,915. ServiceTitan Inc. has a 1 year low of $79.81 and a 1 year high of $128.16. The company's 50-day simple moving average is $97.33.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus cut their target price on ServiceTitan from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Truist Financial began coverage on ServiceTitan in a research report on Monday, January 6th. They issued a "buy" rating and a $120.00 price objective on the stock. Robert W. Baird initiated coverage on ServiceTitan in a report on Friday, December 27th. They set an "outperform" rating and a $117.00 target price for the company. Citigroup boosted their price objective on shares of ServiceTitan from $109.00 to $113.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Finally, Canaccord Genuity Group lifted their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $115.54.

Insider Transactions at ServiceTitan

In other news, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the transaction, the chief accounting officer now owns 89,302 shares of the company's stock, valued at $8,452,434.30. The trade was a 5.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Sherry sold 10,175 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $963,063.75. Following the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

ServiceTitan Profile

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.