PEAK6 LLC Purchases New Position in ServiceTitan Inc. $TTAN

Key Points

• PEAK6 LLC has acquired 4,737 shares of ServiceTitan Inc. (NASDAQ:TTAN), valued at approximately $451,000, marking a new position for the firm in the first quarter.
• In recent analyst reports, Needham & Company set a price target of $140, while Piper Sandler raised theirs from $125 to $150, indicating strong market interest in the stock.
• ServiceTitan reported a quarterly earnings per share (EPS) of $0.18, exceeding the consensus estimate of $0.12, with year-over-year revenue growth of 26.6%.

PEAK6 LLC acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,737 shares of the company's stock, valued at approximately $451,000.

Several other institutional investors have also recently modified their holdings of the company. TPG GP A LLC bought a new position in shares of ServiceTitan during the 4th quarter valued at about $525,405,000. Price T Rowe Associates Inc. MD increased its position in shares of ServiceTitan by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock valued at $219,341,000 after purchasing an additional 32,066 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of ServiceTitan by 1,545.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after purchasing an additional 1,930,779 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in shares of ServiceTitan during the 4th quarter valued at $210,777,000. Finally, TimesSquare Capital Management LLC grew its holdings in shares of ServiceTitan by 22.3% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,044,914 shares of the company's stock valued at $99,382,000 after purchasing an additional 190,476 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on TTAN. Stifel Nicolaus increased their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a report on Friday, May 30th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Robert W. Baird increased their target price on shares of ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Needham & Company LLC restated a "buy" rating and set a $140.00 price target on shares of ServiceTitan in a research report on Friday, June 6th. Finally, Raymond James Financial started coverage on ServiceTitan in a research report on Friday, August 29th. They set a "market perform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $127.00.

Insider Transactions at ServiceTitan

In other news, CEO Ara Mahdessian sold 45,185 shares of ServiceTitan stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $103.71, for a total value of $4,686,136.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Byron B. Deeter sold 31,187 shares of ServiceTitan stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $112.60, for a total value of $3,511,656.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,546,850 shares of company stock worth $164,753,189. Corporate insiders own 51.72% of the company's stock.

ServiceTitan Trading Up 0.7%

ServiceTitan stock traded up $0.70 during trading hours on Thursday, reaching $103.52. The stock had a trading volume of 973,310 shares, compared to its average volume of 725,146. ServiceTitan Inc. has a 52 week low of $79.81 and a 52 week high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The company has a fifty day simple moving average of $108.97 and a 200-day simple moving average of $106.85.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. ServiceTitan's revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

About ServiceTitan

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.