Corient Private Wealth LP Makes New Investment in ServiceTitan Inc. $TTAN

Key Points

• Corient Private Wealth initiated a position in ServiceTitan, purchasing 39,977 shares worth approximately $2.83 million in the second quarter. Several other institutional investors also established or increased positions.
• ServiceTitan exceeded quarterly expectations, reporting adjusted EPS of $0.40 versus the $0.35 consensus and revenue of $292.76 million, up 20.9% year over year. However, the company remains unprofitable, with a negative net margin of 12.12%.
• Analysts maintain a generally positive outlook, giving the stock a “Moderate Buy” consensus rating and an average price target of $96.38, despite recent price declines, insider selling, and a reported securities-law investigation.

Corient Private Wealth LP purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 39,977 shares of the company's stock, valued at approximately $2,827,000.

Other large investors also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of ServiceTitan in the second quarter valued at $255,000. Vancity Investment Management Ltd boosted its position in ServiceTitan by 17.2% during the second quarter. Vancity Investment Management Ltd now owns 14,973 shares of the company's stock valued at $1,059,000 after purchasing an additional 2,198 shares during the last quarter. Shah Wealth Advisors LLC bought a new position in shares of ServiceTitan during the 2nd quarter valued at $1,186,000. Concurrent Investment Advisors LLC bought a new stake in ServiceTitan during the second quarter worth approximately $283,000. Finally, Nykredit A S acquired a new position in ServiceTitan during the 2nd quarter worth $150,000.

ServiceTitan Price Performance

Shares of TTAN stock opened at $56.53 on Tuesday. The stock has a market cap of $5.45 billion, a P/E ratio of -41.57 and a beta of 0.11. The company has a fifty day moving average price of $80.79 and a two-hundred day moving average price of $71.90. ServiceTitan Inc. has a one year low of $53.00 and a one year high of $115.92.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. ServiceTitan's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -0.53 EPS for the current fiscal year.

More ServiceTitan News

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan’s AI strategy remains a potential growth driver. Its Max operating system and broader Agentic Operating System are designed to automate field-service workflows, improve technician productivity and help contractors generate more revenue. Recent quarterly results showed revenue growth of 20.9% year over year, supporting the investment case for continued AI adoption. Can Max Turn AI Adoption into Continued Growth for ServiceTitan Stock?
• Neutral Sentiment: CEO Ara Mahdessian, President Vahe Kuzoyan, CFO David Sherry and CAO Michele O’Connor sold shares at an average price of $57.07. The transactions reduced their holdings, but the filings state that the sales were made to cover tax-withholding obligations tied to vested equity awards. The CEO and president each sold 3,148 shares, while the CFO sold 23,246 shares and continued to own 363,511 shares afterward.
• Negative Sentiment: Bleichmar Fonti & Auld announced an investigation into potential securities-law violations involving ServiceTitan after the stock’s significant decline. Although the announcement does not establish wrongdoing, securities-fraud investigations can increase legal and reputational risk and may weigh on investor sentiment. TTAN Loss Alert and Securities Fraud Investigation

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 51,947 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total value of $10,192,790.88. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 320,153 shares of company stock worth $26,544,329. Company insiders own 39.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TTAN. Evercore set a $90.00 price objective on ServiceTitan in a report on Wednesday, September 9th. UBS Group set a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, September 9th. Canaccord Genuity Group decreased their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, September 9th. KeyCorp cut their price objective on ServiceTitan from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, September 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceTitan currently has an average rating of "Moderate Buy" and an average target price of $96.38.

ServiceTitan Company Profile

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company's products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.

Want to see what other hedge funds are holding TTAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceTitan Inc. (NASDAQ:TTAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.