Massachusetts Financial Services Co. MA Has $50.73 Million Stock Holdings in ServiceTitan Inc. (NASDAQ:TTAN)

Massachusetts Financial Services Co. MA boosted its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 533,409 shares of the company's stock after acquiring an additional 53,235 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.70% of ServiceTitan worth $50,733,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TTAN. Deer Management Co. LLC acquired a new position in shares of ServiceTitan during the fourth quarter valued at about $925,943,000. TPG GP A LLC purchased a new stake in ServiceTitan during the 4th quarter worth about $525,405,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ServiceTitan in the 4th quarter valued at about $233,937,000. Dragoneer Investment Group LLC acquired a new position in ServiceTitan during the 4th quarter worth approximately $210,777,000. Finally, Thoma Bravo L.P. acquired a new position in shares of ServiceTitan in the 4th quarter valued at approximately $106,892,000.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN traded down $0.12 during midday trading on Monday, reaching $113.97. The company had a trading volume of 526,401 shares, compared to its average volume of 732,643. The stock's fifty day moving average price is $112.32 and its 200-day moving average price is $105.07. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. The company's revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, Director William J.G. Griffith sold 90,917 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the transaction, the director owned 483,635 shares in the company, valued at approximately $53,195,013.65. This trade represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 42,674 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.84, for a total value of $4,729,986.16. Following the transaction, the chief executive officer directly owned 1 shares in the company, valued at $110.84. This trade represents a 100.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,378,143 shares of company stock valued at $146,514,872. 51.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Securities upped their target price on ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley increased their price target on ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Robert W. Baird increased their price objective on ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. 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. Finally, KeyCorp set a $140.00 target price on shares of ServiceTitan and gave the company an "overweight" rating in a report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.21.

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.