Whittier Trust Co. of Nevada Inc. Acquires 25,374 Shares of ServiceTitan Inc. $TTAN

Key Points

• Whittier Trust Co. of Nevada increased its ServiceTitan stake by 81.6% in the first quarter, buying 25,374 more shares and bringing its total holdings to 56,475 shares worth about $3.56 million.
• Insiders have been selling stock: CAO Michele O'Connor sold 10,000 shares and Director William J.G. Griffith sold 94,415 shares, with insiders unloading 244,807 shares in the last quarter overall.
• ServiceTitan shares rose 2.7% to $79.87, while the company reported stronger-than-expected quarterly results, including EPS of $0.37 and revenue of $268.82 million, up 24.6% year over year.

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) by 81.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,475 shares of the company's stock after buying an additional 25,374 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.06% of ServiceTitan worth $3,558,000 at the end of the most recent quarter.

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

Insider Activity

In other ServiceTitan news, CAO Michele O'connor sold 10,000 shares of ServiceTitan stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total value of $691,400.00. Following the sale, the chief accounting officer directly owned 81,890 shares in the company, valued at approximately $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 accessible through this link. Also, Director William J.G. Griffith sold 94,415 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the director owned 443,221 shares in the company, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 244,807 shares of company stock valued at $15,649,413 in the last quarter. Company insiders own 39.89% of the company's stock.

ServiceTitan Trading Up 2.7%

TTAN traded up $2.08 on Tuesday, hitting $79.87. 299,514 shares of the company's stock traded hands, compared to its average volume of 1,464,949. The company's 50 day simple moving average is $66.29 and its 200-day simple moving average is $74.08. ServiceTitan Inc. has a one year low of $54.17 and a one year high of $119.99. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of -54.95 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share 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 business had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same period in the prior year, the company posted $0.18 EPS. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on TTAN shares. Weiss Ratings restated a "sell (e+)" rating on shares of ServiceTitan in a research report on Friday, April 24th. Piper Sandler increased their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, June 5th. Canaccord Genuity Group lowered their price target on shares of ServiceTitan from $140.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Robert W. Baird upped their price target on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company reduced their price objective on shares of ServiceTitan from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.53.

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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