ServiceTitan Inc. $TTAN Holdings Cut by Littlejohn & Co. LLC

Key Points

• Littlejohn & Co. LLC cut its ServiceTitan stake by 23.1% in the first quarter, selling 42,646 shares and leaving it with 142,198 shares worth about $9.0 million.
• ServiceTitan’s latest earnings beat estimates, with EPS of $0.37 versus $0.28 expected and revenue of $268.82 million, up 24.6% year over year.
• Analysts remain broadly positive despite mixed signals: ServiceTitan has a Moderate Buy consensus rating, though some firms raised price targets while Weiss Ratings kept a sell rating.

Littlejohn & Co. LLC decreased its stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,198 shares of the company's stock after selling 42,646 shares during the quarter. ServiceTitan makes up 8.5% of Littlejohn & Co. LLC's holdings, making the stock its 7th biggest position. Littlejohn & Co. LLC owned about 0.15% of ServiceTitan worth $9,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Woodline Partners LP lifted its stake in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after buying an additional 95 shares in the last quarter. Cetera Investment Advisers purchased a new stake in ServiceTitan during the 2nd quarter worth approximately $345,000. Russell Investments Group Ltd. purchased a new stake in ServiceTitan during the 2nd quarter worth approximately $500,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock valued at $46,000 after acquiring an additional 392 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of ServiceTitan during the second quarter valued at approximately $393,000.

Analyst Ratings Changes

TTAN has been the topic of a number of research analyst reports. UBS Group reaffirmed a "buy" rating on shares of ServiceTitan in a research note on Wednesday. BMO Capital Markets increased their price objective on ServiceTitan from $92.00 to $103.00 and gave the company an "outperform" rating in a research note on Friday, June 5th. Weiss Ratings restated a "sell (e+)" rating on shares of ServiceTitan in a report on Tuesday. KeyCorp reaffirmed an "overweight" rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Finally, Morgan Stanley upped their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.53.

ServiceTitan Price Performance

Shares of ServiceTitan stock opened at $69.07 on Friday. The stock's 50 day simple moving average is $70.44 and its 200-day simple moving average is $71.27. The stock has a market cap of $6.59 billion, a P/E ratio of -47.63 and a beta of 0.13. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $268.82 million during the quarter, compared to analysts' expectations of $257.40 million. During the same quarter last year, the firm earned $0.18 earnings per share. The business's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, research analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J.G. Griffith sold 94,415 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 296,664 shares of company stock worth $19,958,797 over the last quarter. Corporate insiders own 39.89% of the company's stock.

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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