Victory Capital Management Inc. Purchases 20,270 Shares of ServiceTitan Inc. (NASDAQ:TTAN)

Victory Capital Management Inc. boosted its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,850 shares of the company's stock after purchasing an additional 20,270 shares during the quarter. Victory Capital Management Inc. owned 0.16% of ServiceTitan worth $11,589,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Deer Management Co. LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at $925,943,000. TPG GP A LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at $525,405,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ServiceTitan in the 4th quarter valued at $233,937,000. Dragoneer Investment Group LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at $210,777,000. Finally, Thoma Bravo L.P. acquired a new position in shares of ServiceTitan in the 4th quarter valued at $106,892,000.

Insiders Place Their Bets

In other ServiceTitan news, Director William J.G. Griffith sold 90,917 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the completion of the transaction, the director owned 483,635 shares of the company's stock, valued at approximately $53,195,013.65. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $102.00, for a total value of $51,000,000.00. Following the transaction, the insider directly owned 8,503,571 shares of the company's stock, valued at approximately $867,364,242. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,412,338 shares of company stock worth $150,374,391 in the last ninety days. Insiders own 51.72% of the company's stock.

ServiceTitan Stock Performance

NASDAQ TTAN traded down $0.37 during trading on Friday, hitting $116.94. 423,803 shares of the company's stock were exchanged, compared to its average volume of 1,111,416. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The stock's 50 day moving average price is $111.48 and its two-hundred day moving average price is $105.55.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. ServiceTitan's revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TTAN shares. KeyCorp set a $140.00 price objective on shares of ServiceTitan and gave the company an "overweight" rating in a research note on Wednesday, July 16th. TD Securities increased their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Loop Capital reaffirmed a "hold" rating and issued a $100.00 target price (up previously from $90.00) on shares of ServiceTitan in a report on Friday, June 6th. TD Cowen began coverage on shares of ServiceTitan in a report on Tuesday, April 8th. They issued a "buy" rating and a $120.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

ServiceTitan Company Profile

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.