Shah Wealth Advisors LLC Buys Shares of 16,776 ServiceTitan Inc. $TTAN

Key Points

• Shah Wealth Advisors initiated a position in ServiceTitan, purchasing 16,776 shares valued at approximately $1.19 million. Several other institutional investors also increased their holdings.
• Analyst sentiment remains positive: 14 analysts rate the stock a Buy, with an average target price of $108.93, compared with a recent price of $87.92.
• ServiceTitan exceeded quarterly expectations, reporting $0.37 in EPS and $268.82 million in revenue, up 24.6% year over year. However, insiders have sold roughly $39.9 million in shares over the past three months.

Shah Wealth Advisors LLC purchased a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,776 shares of the company's stock, valued at approximately $1,186,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock worth $214,494,000 after purchasing an additional 508,848 shares during the period. Artisan Partners Limited Partnership raised its position in shares of ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock worth $172,248,000 after buying an additional 519,024 shares in the last quarter. Greenoaks Capital Partners LLC raised its position in shares of ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company's stock worth $165,315,000 after buying an additional 264,926 shares in the last quarter. Capital International Investors lifted its stake in shares of ServiceTitan by 23.9% in the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company's stock worth $130,430,000 after acquiring an additional 236,287 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of ServiceTitan by 14.0% in the fourth quarter. Bamco Inc. NY now owns 1,096,931 shares of the company's stock valued at $116,823,000 after acquiring an additional 134,313 shares in the last quarter.

Analyst Upgrades and Downgrades

TTAN has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, June 17th. BTIG Research reiterated a "buy" rating and set a $110.00 price target on shares of ServiceTitan in a research report on Friday, July 10th. Morgan Stanley boosted their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Friday, June 5th. UBS Group reaffirmed a "buy" rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Finally, Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research report on Wednesday, May 27th. Fourteen research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $108.93.

ServiceTitan Stock Down 5.6%

NASDAQ:TTAN opened at $87.92 on Friday. The stock has a fifty day simple moving average of $84.09 and a 200 day simple moving average of $72.31. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of -60.63 and a beta of 0.11. 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 data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the previous year, the company earned $0.18 EPS. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. Equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 38,287 shares of ServiceTitan stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total transaction of $3,250,183.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 9,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $90.83, for a total value of $817,470.00. Following the completion of the sale, the chief financial officer owned 386,757 shares of the company's stock, valued at $35,129,138.31. The trade was a 2.27% decrease in their position. 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 have sold 524,837 shares of company stock valued at $39,894,622 over the last three months. 39.89% of the stock is owned by insiders.

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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