WCM Investment Management LLC Makes New Investment in ServiceTitan Inc. (NASDAQ:TTAN)

WCM Investment Management LLC purchased a new stake in ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 84,121 shares of the company's stock, valued at approximately $8,025,000. WCM Investment Management LLC owned approximately 0.11% of ServiceTitan at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Deer Management Co. LLC acquired a new position in shares of ServiceTitan in the fourth quarter valued at approximately $925,943,000. TPG GP A LLC purchased a new position in shares of ServiceTitan during the 4th quarter worth $525,405,000. Battery Management Corp. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $496,599,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ServiceTitan in the fourth quarter valued at $233,937,000. Finally, Dragoneer Investment Group LLC acquired a new position in ServiceTitan in the fourth quarter valued at $210,777,000.

ServiceTitan Trading Up 1.0%

Shares of TTAN traded up $1.06 during midday trading on Thursday, reaching $109.84. 1,008,818 shares of the company were exchanged, compared to its average volume of 714,807. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ServiceTitan Inc. has a 1-year low of $79.81 and a 1-year high of $131.33. The company's 50-day moving average is $114.35.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. The firm's revenue for the quarter was up 26.6% on a year-over-year basis. Equities analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CAO Michele O'connor sold 1,732 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $105.22, for a total value of $182,241.04. Following the sale, the chief accounting officer directly owned 98,936 shares of the company's stock, valued at $10,410,045.92. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David Sherry sold 16,630 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $104.65, for a total transaction of $1,740,329.50. Following the transaction, the chief financial officer directly owned 368,678 shares of the company's stock, valued at approximately $38,582,152.70. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 936,552 shares of company stock worth $97,604,656. 51.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TTAN shares. KeyCorp increased their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. Stifel Nicolaus lifted their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a report on Friday, May 30th. Robert W. Baird upped their price objective on ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Morgan Stanley increased their target price on ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.21.

About ServiceTitan

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.