ABN Amro Investment Solutions Makes New $4.40 Million Investment in ServiceTitan Inc. $TTAN

Key Points

• ABN Amro Investment Solutions opened a new position in ServiceTitan during the fourth quarter, buying 41,354 shares worth about $4.4 million.
• ServiceTitan reported better-than-expected quarterly results, with EPS of $0.27 versus estimates of $0.18 and revenue of $253.99 million, up 21.4% year over year.
• Despite the earnings beat, the stock was down 2.3% and insider selling continued, including sales by President Vahe Kuzoyan and CFO David Sherry; analysts still rate the stock Moderate Buy on average.

ABN Amro Investment Solutions bought a new position in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,354 shares of the company's stock, valued at approximately $4,404,000.

Several other hedge funds have also added to or reduced their stakes in TTAN. Vanguard Group Inc. boosted its holdings in ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company's stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in ServiceTitan by 118.4% in the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company's stock worth $291,798,000 after acquiring an additional 1,569,136 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in ServiceTitan in the third quarter worth $84,983,000. First Trust Advisors LP boosted its holdings in ServiceTitan by 2,401.9% in the third quarter. First Trust Advisors LP now owns 670,883 shares of the company's stock worth $67,645,000 after acquiring an additional 644,068 shares in the last quarter. Finally, Atreides Management LP bought a new stake in ServiceTitan in the second quarter worth $68,679,000.

ServiceTitan Stock Down 2.3%

Shares of TTAN opened at $61.33 on Friday. The business has a 50-day simple moving average of $63.20 and a two-hundred day simple moving average of $79.68. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of -35.66 and a beta of -0.23. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $124.85.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. The business had revenue of $253.99 million during the quarter, compared to analysts' expectations of $245.47 million. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, equities analysts anticipate that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $224,949.20. Following the completion of the sale, the president owned 1 shares in the company, valued at approximately $69.86. This trade represents a 99.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Sherry sold 17,778 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $1,241,971.08. Following the sale, the chief financial officer owned 313,025 shares of the company's stock, valued at $21,867,926.50. This represents a 5.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,440 shares of company stock worth $2,281,468. Corporate insiders own 39.89% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on TTAN shares. BTIG Research dropped their target price on ServiceTitan from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday. Citigroup dropped their target price on ServiceTitan from $117.00 to $88.00 and set a "neutral" rating on the stock in a report on Friday, March 13th. Stifel Nicolaus lowered their price target on ServiceTitan from $145.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ServiceTitan in a report on Friday, April 24th. Finally, BMO Capital Markets lowered their price target on ServiceTitan from $108.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 13th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $109.47.

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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