Perpetual Ltd Invests $324,000 in ServiceTitan Inc. $TTAN

Key Points

• Perpetual Ltd has invested approximately $324,000 in ServiceTitan Inc., acquiring 3,022 shares of the company's stock.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates, have significantly increased their stakes in ServiceTitan during the first quarter.
• ServiceTitan's stock currently holds a consensus rating of "Moderate Buy" with an average price target of $132.67, indicating positive analyst sentiment.

Perpetual Ltd acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,022 shares of the company's stock, valued at approximately $324,000.

Several other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceTitan by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock valued at $219,341,000 after buying an additional 32,066 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of ServiceTitan by 1,545.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after buying an additional 1,930,779 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of ServiceTitan by 22.3% in the first quarter. TimesSquare Capital Management LLC now owns 1,044,914 shares of the company's stock valued at $99,382,000 after buying an additional 190,476 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of ServiceTitan by 4.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 909,131 shares of the company's stock valued at $86,468,000 after buying an additional 38,827 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of ServiceTitan by 25.8% in the first quarter. Vanguard Group Inc. now owns 701,060 shares of the company's stock valued at $66,678,000 after buying an additional 143,574 shares during the period.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $115.48 on Monday. The company has a market capitalization of $10.73 billion and a price-to-earnings ratio of -21.39. ServiceTitan Inc. has a twelve month low of $79.81 and a twelve month high of $131.33. The stock has a fifty day simple moving average of $110.39 and a 200 day simple moving average of $108.69. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird boosted their price target on ServiceTitan from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. KeyCorp set a $140.00 price objective on shares of ServiceTitan and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Canaccord Genuity Group boosted their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of ServiceTitan from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $132.67.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O'connor sold 5,188 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $116.05, for a total transaction of $602,067.40. Following the sale, the chief accounting officer owned 93,748 shares of the company's stock, valued at approximately $10,879,455.40. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 7,039 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $117.32, for a total transaction of $825,815.48. Following the sale, the insider directly owned 7,159,295 shares in the company, valued at $839,928,489.40. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,869,438 shares of company stock valued at $211,021,131. 51.72% of the stock is owned by corporate insiders.

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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