ServiceTitan Inc. $TTAN Shares Newly Bought by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners initiated a ServiceTitan position of 45,335 shares valued at approximately $3.0 million during the third quarter. Several other institutional investors also increased or initiated holdings.
• ServiceTitan’s latest quarter exceeded expectations, with adjusted earnings of $0.40 per share and revenue of $292.76 million, up 20.9% year over year. However, the company continues to report a negative net margin and analysts expect a full-year loss.
• Shares opened at $80.86, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $96.38. Insiders sold $22.3 million of stock over the past three months, primarily through tax-related or pre-arranged transactions.

Moody Aldrich Partners LLC bought a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 45,335 shares of the company's stock, valued at approximately $2,983,000.

Other hedge funds have also modified their holdings of the company. Madison Asset Management LLC purchased a new position in shares of ServiceTitan in the 2nd quarter valued at about $56,118,000. Jennison Associates LLC raised its holdings in ServiceTitan by 235.3% in the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company's stock worth $24,145,000 after purchasing an additional 267,002 shares during the period. Wellington Management Group LLP boosted its position in ServiceTitan by 258.7% during the second quarter. Wellington Management Group LLP now owns 316,695 shares of the company's stock worth $22,394,000 after purchasing an additional 228,417 shares in the last quarter. Stockbridge Partners LLC purchased a new position in ServiceTitan during the second quarter worth approximately $13,333,000. Finally, D.A. Davidson & CO. purchased a new position in ServiceTitan during the first quarter worth approximately $8,401,000.

Insider Buying and Selling at ServiceTitan

In other news, President Vahe Kuzoyan sold 3,148 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $179,656.36. Following the completion of the sale, the president directly owned 2 shares in the company, valued at $114.14. This represents a 99.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Sherry sold 1,138 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $75.22, for a total transaction of $85,600.36. Following the transaction, the chief financial officer owned 362,373 shares in the company, valued at $27,257,697.06. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 268,814 shares of company stock worth $22,294,608 over the last three months. 39.89% of the stock is owned by corporate insiders.

ServiceTitan Price Performance

NASDAQ TTAN opened at $80.86 on Thursday. The company has a market cap of $7.80 billion, a PE ratio of -59.46 and a beta of 0.33. The stock's 50 day simple moving average is $75.42 and its 200-day simple moving average is $72.94. ServiceTitan Inc. has a 1-year low of $53.00 and a 1-year high of $111.36.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The firm had revenue of $292.76 million during the quarter, compared to analysts' expectations of $285.89 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts anticipate that ServiceTitan Inc. will post -0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on TTAN. TD Cowen reissued a "buy" rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, October 7th. BMO Capital Markets reduced their target price on ServiceTitan from $103.00 to $90.00 and set an "outperform" rating for the company in a research note on Wednesday, September 9th. Truist Financial reiterated a "buy" rating and set a $100.00 target price (down from $110.00) on shares of ServiceTitan in a research report on Wednesday, September 9th. Piper Sandler dropped their price target on shares of ServiceTitan from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th. Finally, Evercore set a $90.00 price target on shares of ServiceTitan in a research note on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, ServiceTitan presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.38.

ServiceTitan Profile

ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.

The company's software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.

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