JPMorgan Chase & Co. Has $291.80 Million Holdings in ServiceTitan Inc. $TTAN

JPMorgan Chase & Co. grew its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 118.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,893,959 shares of the company’s stock after acquiring an additional 1,569,136 shares during the period. JPMorgan Chase & Co.’s holdings in ServiceTitan were worth $291,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Cloud Capital Management LLC acquired a new stake in shares of ServiceTitan in the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. boosted its position in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of ServiceTitan in the 3rd quarter valued at $52,000. PNC Financial Services Group Inc. bought a new stake in shares of ServiceTitan during the second quarter worth $79,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of ServiceTitan during the second quarter valued at $94,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler lowered their price objective on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. TD Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. UBS Group restated a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. Finally, BMO Capital Markets raised their price objective on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.13.

Insiders Place Their Bets

In other news, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $102.82, for a total transaction of $1,685,014.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,371 shares of company stock valued at $22,700,994 in the last three months. Insiders own 51.72% of the company’s stock.

ServiceTitan Trading Up 4.5%

TTAN opened at $66.98 on Friday. The firm’s fifty day moving average is $90.03 and its two-hundred day moving average is $97.08. The firm has a market cap of $6.27 billion, a PE ratio of -16.42 and a beta of -0.86. ServiceTitan Inc. has a twelve month low of $58.01 and a twelve month high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. During the same quarter in the previous year, the business earned $0.75 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. Equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

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.