Healthcare of Ontario Pension Plan Trust Fund Grows Stake in ServiceTitan Inc. $TTAN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its ServiceTitan stake by 25.5% in the fourth quarter, ending with 213,376 shares valued at about $22.7 million.
• Insider selling was notable, with CFO David Sherry and CEO Ara Mahdessian both selling shares on March 18; insiders sold 43,440 shares worth nearly $3.0 million over the last 90 days.
• ServiceTitan reported a strong quarter, with EPS of $0.37 beating estimates and revenue rising 24.6% year over year to $268.8 million, while analysts currently have a Moderate Buy consensus and a $110.53 target price.

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 213,376 shares of the company's stock after buying an additional 43,376 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.23% of ServiceTitan worth $22,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp lifted its holdings in ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock worth $27,000 after buying an additional 150 shares during the period. Farther Finance Advisors LLC lifted its holdings in ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock worth $28,000 after buying an additional 174 shares during the period. eCIO Inc. purchased a new stake in ServiceTitan in the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC purchased a new stake in ServiceTitan in the 4th quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after acquiring an additional 392 shares in the last quarter.

Insider Buying and Selling

In related news, CFO David Sherry sold 17,778 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the completion of the transaction, the chief financial officer owned 313,025 shares of the company's stock, valued at $21,867,926.50. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 2,288 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares of the company's stock, valued at approximately $69.86. This trade represents a 99.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 43,440 shares of company stock worth $2,972,868 in the last 90 days. Corporate insiders own 39.89% of the company's stock.

ServiceTitan Stock Up 3.0%

TTAN stock opened at $68.80 on Tuesday. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The firm has a market cap of $6.56 billion, a PE ratio of -47.45 and a beta of 0.12. The business has a 50 day moving average of $64.16 and a 200 day moving average of $77.26.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the company earned $0.18 EPS. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TTAN has been the subject of several research reports. Truist Financial reissued a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Morgan Stanley increased their target price on ServiceTitan from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Friday, June 5th. Wells Fargo & Company decreased their target price on ServiceTitan from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Canaccord Genuity Group decreased their target price on ServiceTitan from $140.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, March 13th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of ServiceTitan in a research report on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.53.

About ServiceTitan

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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