Dimensional Fund Advisors LP Acquires Shares of 14,424 ServiceTitan Inc. $TTAN

Key Points

• Dimensional Fund Advisors acquired 14,424 ServiceTitan shares worth approximately $915,000, while several other major institutional investors increased their positions during the fourth quarter.
• ServiceTitan reported quarterly revenue of $268.82 million, up 24.6% year over year, and earnings per share of $0.37, exceeding analysts’ $0.28 estimate. However, the company remained unprofitable, posting a negative net margin of 13.44%.
• Analysts maintain a broadly positive outlook, with 15 Buy, three Hold and one Sell ratings and an average price target of $111. Insiders sold approximately $39.1 million worth of shares over the past 90 days, while the stock opened at $90.40.

Dimensional Fund Advisors LP acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 14,424 shares of the company's stock, valued at approximately $915,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company's stock worth $518,549,000 after buying an additional 439,079 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock worth $214,494,000 after buying an additional 508,848 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of ServiceTitan by 47.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock valued at $172,248,000 after buying an additional 519,024 shares during the period. Greenoaks Capital Partners LLC lifted its holdings in shares of ServiceTitan by 20.6% in the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company's stock valued at $165,315,000 after buying an additional 264,926 shares during the period. Finally, Capital International Investors boosted its stake in shares of ServiceTitan by 23.9% in the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company's stock valued at $130,430,000 after buying an additional 236,287 shares in the last quarter.

Insider Activity at ServiceTitan

In other news, Director Byron B. Deeter sold 8,845 shares of ServiceTitan stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the sale, the director directly owned 13,782 shares of the company's stock, valued at approximately $873,089.70. The trade was a 39.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michele O'connor sold 4,910 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the transaction, the chief accounting officer owned 71,676 shares in the company, valued at approximately $5,800,738.68. This trade represents a 6.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 515,837 shares of company stock valued at $39,077,152. 39.89% of the stock is currently owned by insiders.

ServiceTitan Trading Down 3.5%

NASDAQ TTAN opened at $90.40 on Friday. The company's fifty day simple moving average is $75.93 and its 200-day simple moving average is $70.02. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The stock has a market cap of $8.62 billion, a P/E ratio of -62.34 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same period last year, the business earned $0.18 EPS. The business's revenue was up 24.6% on a year-over-year basis. On average, research analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TTAN has been the subject of a number of recent analyst reports. Truist Financial reissued a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. BMO Capital Markets upped their price target on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an "outperform" rating in a research note on Friday, June 5th. Piper Sandler increased their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, June 5th. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research note on Wednesday, May 27th. Finally, BTIG Research reissued a "buy" rating and set a $110.00 price objective on shares of ServiceTitan in a report on Friday, July 10th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $111.00.

ServiceTitan Company 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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