ServiceTitan Inc. $TTAN Shares Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC boosted its ServiceTitan stake by 56.0% in the first quarter, ending with 80,285 shares valued at about $5.1 million.
• Several insiders sold shares recently, including CAO Michele O'connor and Director William J.G. Griffith, with total insider sales over the past 90 days reaching 244,807 shares worth $15.6 million.
• ServiceTitan reported better-than-expected quarterly results, with EPS of $0.37 and revenue of $268.82 million, while analysts currently maintain a Moderate Buy consensus and a $110.53 price target.

Janney Montgomery Scott LLC increased its position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 56.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,285 shares of the company's stock after buying an additional 28,829 shares during the quarter. Janney Montgomery Scott LLC owned about 0.09% of ServiceTitan worth $5,095,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp increased its position in shares of ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 174 shares during the last quarter. eCIO Inc. purchased a new stake in ServiceTitan in the fourth quarter valued at approximately $30,000. Elevation Wealth Partners LLC purchased a new stake in ServiceTitan in the fourth quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after purchasing an additional 392 shares in the last quarter.

Insider Activity

In related news, CAO Michele O'connor sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the transaction, the chief accounting officer owned 81,890 shares in the company, valued at $5,661,874.60. The trade was a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William J.G. Griffith sold 94,415 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the director directly owned 443,221 shares of the company's stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 244,807 shares of company stock valued at $15,649,413. Insiders own 39.89% of the company's stock.

ServiceTitan Stock Performance

Shares of TTAN opened at $78.31 on Monday. The company's 50 day simple moving average is $65.95 and its 200-day simple moving average is $74.27. The firm has a market cap of $7.47 billion, a PE ratio of -54.01 and a beta of 0.13. ServiceTitan Inc. has a 12-month low of $54.17 and a 12-month high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to analysts' expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. ServiceTitan's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, equities research analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research report on Wednesday, May 27th. TD Cowen increased their target price on ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Piper Sandler raised their target price on ServiceTitan from $100.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, June 5th. William Blair reaffirmed an "outperform" rating on shares of ServiceTitan in a research report on Friday, March 13th. Finally, Wells Fargo & Company cut their price objective on ServiceTitan from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, March 13th. Fifteen investment 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's stock. According to MarketBeat, ServiceTitan currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.53.

About ServiceTitan

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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