268,392 Shares in ServiceTitan Inc. $TTAN Purchased by Sandhill Capital Partners LLC

Key Points

• Sandhill Capital Partners LLC acquired a new stake of 268,392 shares in ServiceTitan (about $27.06M) in Q3, representing roughly 0.29% ownership and the firm's 22nd-largest holding.
• ServiceTitan beat Q3 estimates with $0.24 EPS vs. $0.15 and revenue of $249.16M (up 25% YoY), but remains unprofitable (net margin -23.9%) and analysts forecast about -1.98 EPS for the year while assigning a consensus target of $132.06 (Moderate Buy).
• Insiders sold roughly 216,371 shares in the last quarter (including the CFO and President), even though insiders still control 51.72% of the company.

Sandhill Capital Partners LLC acquired a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 268,392 shares of the company's stock, valued at approximately $27,062,000. ServiceTitan comprises approximately 1.9% of Sandhill Capital Partners LLC's holdings, making the stock its 22nd biggest position. Sandhill Capital Partners LLC owned approximately 0.29% of ServiceTitan at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TTAN. WINTON GROUP Ltd acquired a new position in shares of ServiceTitan in the 3rd quarter worth approximately $968,000. Russell Investments Group Ltd. grew its position in shares of ServiceTitan by 98.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,256 shares of the company's stock worth $933,000 after acquiring an additional 4,590 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of ServiceTitan in the third quarter valued at approximately $686,000. PFG Advisors bought a new stake in shares of ServiceTitan during the third quarter valued at approximately $289,000. Finally, Parallel Advisors LLC boosted its position in shares of ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company's stock worth $53,000 after buying an additional 325 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on TTAN. Piper Sandler decreased their price objective on ServiceTitan from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, February 2nd. Morgan Stanley lifted their target price on ServiceTitan from $118.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, December 5th. BTIG Research began coverage on ServiceTitan in a research report on Tuesday, December 16th. They set a "buy" rating and a $130.00 price target for the company. BMO Capital Markets decreased their price target on ServiceTitan from $125.00 to $108.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, UBS Group reissued a "buy" rating on shares of ServiceTitan in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $132.06.

ServiceTitan Stock Up 6.0%

TTAN stock opened at $82.95 on Monday. The company's 50 day simple moving average is $82.34 and its 200-day simple moving average is $94.39. The firm has a market capitalization of $7.77 billion, a P/E ratio of -20.33 and a beta of -0.71. ServiceTitan Inc. has a 52-week low of $58.01 and a 52-week high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. The business had revenue of $249.16 million during the quarter, compared to analysts' expectations of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insider Buying and Selling

In other news, CFO David Sherry sold 11,672 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 331,781 shares in the company, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Vahe Kuzoyan sold 16,388 shares of the company's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $102.82, for a total transaction of $1,685,014.16. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 216,371 shares of company stock worth $22,700,994. Insiders own 51.72% of the company's stock.

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.

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