ServiceTitan Inc. $TTAN Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its stake in ServiceTitan by 372.3% in Q4 to 26,513 shares (~$2.82M), while Vanguard boosted holdings by 538.4% to 4,429,930 shares valued at $446.67M, indicating significant institutional accumulation.
• ServiceTitan beat the quarter with EPS of $0.27 (vs. $0.18 est.) and revenue of $253.99M (up 21.4% YoY), but remains unprofitable with a negative net margin of 16.64% and negative ROE of 6.86%.
• Notable insider selling occurred: CAO Michele O'Connor sold 5,154 shares and CEO Ara Mahdessian sold 2,288 shares leaving him with one share (a 99.96% decrease), and insiders have sold 33,440 shares (~$2.28M) over the past 90 days.

Comerica Bank increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 372.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,513 shares of the company's stock after buying an additional 20,899 shares during the period. Comerica Bank's holdings in ServiceTitan were worth $2,824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company's stock valued at $446,670,000 after purchasing an additional 3,735,968 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of ServiceTitan by 84.3% in the third quarter. Truist Financial Corp now owns 42,789 shares of the company's stock valued at $4,314,000 after purchasing an additional 19,577 shares in the last quarter. Thornburg Investment Management Inc. purchased a new stake in shares of ServiceTitan in the third quarter valued at $8,338,000. Sandhill Capital Partners LLC purchased a new stake in shares of ServiceTitan in the third quarter valued at $27,062,000. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of ServiceTitan in the third quarter valued at $5,376,000.

ServiceTitan Price Performance

ServiceTitan stock opened at $63.82 on Tuesday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -37.10 and a beta of -0.23. ServiceTitan Inc. has a one year low of $55.23 and a one year high of $131.33. The company's fifty day moving average price is $66.39 and its two-hundred day moving average price is $82.88.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $253.99 million for the quarter, compared to the consensus estimate of $245.47 million. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, sell-side analysts anticipate that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on TTAN shares. Stifel Nicolaus reduced their target price on ServiceTitan from $145.00 to $125.00 and set a "buy" rating for the company in a report on Friday, March 13th. Citigroup reduced their target price on ServiceTitan from $117.00 to $88.00 and set a "neutral" rating for the company in a report on Friday, March 13th. KeyCorp reduced their target price on ServiceTitan from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, March 13th. Morgan Stanley dropped their price target on shares of ServiceTitan from $131.00 to $118.00 and set an "overweight" rating on the stock in a research note on Friday, March 13th. Finally, BMO Capital Markets dropped their price target on shares of ServiceTitan from $108.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 13th. Sixteen equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $112.31.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O'connor sold 5,154 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $360,058.44. Following the transaction, the chief accounting officer directly owned 84,416 shares of the company's stock, valued at $5,897,301.76. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares in the company, valued at $69.86. The trade was a 99.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 33,440 shares of company stock valued at $2,281,468. Corporate insiders own 51.72% 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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