Bank of New York Mellon Corp Buys Shares of 6,288 ServiceTitan Inc. (NASDAQ:TTAN)

Bank of New York Mellon Corp bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,288 shares of the company's stock, valued at approximately $598,000.

Several other institutional investors also recently bought and sold shares of the stock. Deer Management Co. LLC bought a new position in ServiceTitan during the fourth quarter valued at about $925,943,000. TPG GP A LLC bought a new position in ServiceTitan during the fourth quarter valued at about $525,405,000. Price T Rowe Associates Inc. MD bought a new position in ServiceTitan during the fourth quarter valued at about $233,937,000. Dragoneer Investment Group LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $210,777,000. Finally, Thoma Bravo L.P. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $106,892,000.

Insider Activity at ServiceTitan

In other ServiceTitan news, 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 transaction of $3,511,656.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ara Mahdessian sold 42,666 shares of ServiceTitan stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $112.51, for a total value of $4,800,351.66. Following the sale, the chief executive officer directly owned 1 shares in the company, valued at $112.51. The trade was a 100.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,412,338 shares of company stock valued at $150,374,391. Corporate insiders own 51.72% of the company's stock.

ServiceTitan Price Performance

TTAN stock opened at $113.79 on Friday. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The business's 50-day simple moving average is $110.64 and its 200 day simple moving average is $106.16. 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 (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. The firm's revenue for the quarter was up 26.6% compared to the same quarter last year. Sell-side analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TTAN. Canaccord Genuity Group raised their price target on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Morgan Stanley raised their price target on ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. TD Cowen began coverage on ServiceTitan in a research report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 price target on the stock. Cowen reaffirmed a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price target on shares of ServiceTitan in a research report on Friday, June 6th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

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.

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