Segall Bryant & Hamill LLC Makes New Investment in ServiceTitan Inc. $TTAN

Key Points

• Segall Bryant & Hamill acquired a new stake of 110,063 shares in ServiceTitan (NASDAQ:TTAN), valued at about $11.1 million, representing roughly 0.12% of the company at quarter-end.
• Several large institutions materially increased exposure—Vanguard boosted its stake by 538.4% to 4,429,930 shares (~$446.7M) and JPMorgan more than doubled to 2,893,959 shares (~$291.8M), with Invesco, Franklin and Atreides also building sizable positions, indicating strong institutional buying.
• Insiders have been net sellers recently: CAO Michele O'Connor and CFO David Sherry sold shares on Dec. 17, with insiders selling 216,371 shares (~$22.7M) over the past 90 days, although insiders still own 51.72% of the stock.

Segall Bryant & Hamill LLC acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 110,063 shares of the company's stock, valued at approximately $11,098,000. Segall Bryant & Hamill LLC owned 0.12% of ServiceTitan at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company's stock worth $446,670,000 after buying an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company's stock valued at $291,798,000 after acquiring an additional 1,569,136 shares in the last quarter. Invesco Ltd. increased its stake in ServiceTitan by 1,388.2% in the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company's stock valued at $158,344,000 after acquiring an additional 1,378,100 shares during the period. Franklin Resources Inc. raised its position in ServiceTitan by 148.4% in the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company's stock worth $202,917,000 after purchasing an additional 1,131,062 shares in the last quarter. Finally, Atreides Management LP bought a new position in ServiceTitan during the second quarter worth about $68,679,000.

Insiders Place Their Bets

In other ServiceTitan news, CAO Michele O'connor sold 1,678 shares of the business's stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the transaction, the chief accounting officer directly owned 89,571 shares of the company's stock, valued at approximately $9,431,826.30. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David Sherry sold 11,672 shares of the company's stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the transaction, the chief financial officer owned 331,781 shares in the company, valued at $34,936,539.30. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 216,371 shares of company stock valued at $22,700,994. 51.72% of the stock is owned by corporate insiders.

ServiceTitan Trading Up 1.9%

TTAN stock opened at $77.20 on Thursday. The business has a fifty day moving average price of $83.44 and a 200 day moving average price of $94.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. ServiceTitan Inc. has a fifty-two week low of $58.01 and a fifty-two week high of $131.33. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -18.92 and a beta of -0.72.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. The firm had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business's revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TTAN. TD Cowen reiterated a "buy" rating on shares of ServiceTitan in a research note on Monday, February 23rd. BMO Capital Markets upped their price target on ServiceTitan from $115.00 to $125.00 and gave the company an "outperform" rating in a research report on Friday, December 5th. UBS Group reiterated a "buy" rating on shares of ServiceTitan in a research note on Monday, December 1st. Morgan Stanley lifted their price objective on ServiceTitan from $118.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ServiceTitan in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $133.13.

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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