B. Metzler seel. Sohn & Co. AG Purchases Shares of 12,837 ServiceTitan Inc. $TTAN

Key Points

• B. Metzler seel. Sohn & Co. AG acquired a new stake in ServiceTitan Inc., purchasing 12,837 shares valued at approximately $1.22 million during the first quarter.
• ServiceTitan reported a 26.6% year-over-year increase in quarterly revenue, totaling $215.69 million, alongside an EPS of $0.18 that exceeded analysts’ expectations.
• With several analysts upgrading their ratings, ServiceTitan stock has a consensus target price of $127.00, reflecting positive market sentiment.

B. Metzler seel. Sohn & Co. AG bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,837 shares of the company's stock, valued at approximately $1,221,000.

A number of other hedge funds have also made changes to their positions in TTAN. TPG GP A LLC acquired a new position in shares of ServiceTitan during the fourth quarter valued at approximately $525,405,000. Dragoneer Investment Group LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $210,777,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of ServiceTitan by 1,545.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after buying an additional 1,930,779 shares during the last quarter. Thoma Bravo L.P. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $106,892,000. Finally, Durable Capital Partners LP acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $76,268,000.

Insider Activity at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 24,582 shares of ServiceTitan stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $112.02, for a total transaction of $2,753,675.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Sherry sold 1,499 shares of ServiceTitan stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $116.89, for a total transaction of $175,218.11. Following the sale, the chief financial officer owned 365,670 shares of the company's stock, valued at approximately $42,743,166.30. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,546,850 shares of company stock valued at $164,753,189 over the last 90 days. Corporate insiders own 51.72% of the company's stock.

Analyst Upgrades and Downgrades

TTAN has been the subject of a number of recent research reports. KeyCorp set a $140.00 target price on shares of ServiceTitan and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a report on Wednesday, May 21st. Stifel Nicolaus increased their price target on ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a report on Friday, May 30th. Robert W. Baird increased their price target on ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial began coverage on ServiceTitan in a research note on Friday, August 29th. They issued a "market perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.00.

ServiceTitan Stock Up 0.7%

TTAN stock traded up $0.70 during midday trading on Thursday, hitting $103.52. 973,310 shares of the company's stock were exchanged, compared to its average volume of 725,146. The business has a 50-day simple moving average of $108.97 and a two-hundred day simple moving average of $106.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. ServiceTitan's revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

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.