ServiceTitan Inc. $TTAN Stock Holdings Cut by Generation Investment Management LLP

Generation Investment Management LLP lessened its position in ServiceTitan Inc. (NASDAQ:TTAN) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,751,224 shares of the company’s stock after selling 60,741 shares during the period. ServiceTitan makes up 1.2% of Generation Investment Management LLP’s holdings, making the stock its 21st largest position. Generation Investment Management LLP’s holdings in ServiceTitan were worth $176,576,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Woodline Partners LP boosted its stake in ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in ServiceTitan in the 2nd quarter valued at about $204,000. Envestnet Asset Management Inc. bought a new position in shares of ServiceTitan during the 2nd quarter valued at about $13,774,000. Jennison Associates LLC bought a new position in shares of ServiceTitan during the 2nd quarter valued at about $12,285,000. Finally, Keybank National Association OH acquired a new position in shares of ServiceTitan in the 2nd quarter worth approximately $250,000.

ServiceTitan Stock Down 5.7%

TTAN stock opened at $62.73 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The firm has a market capitalization of $5.87 billion, a P/E ratio of -15.38 and a beta of -0.84. ServiceTitan Inc. has a 52-week low of $58.01 and a 52-week high of $131.33. The company’s 50 day simple moving average is $88.47 and its 200-day simple moving average is $96.20.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. TD Cowen restated a “buy” rating on shares of ServiceTitan in a research report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. Piper Sandler reduced their price objective on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Finally, Wells Fargo & Company decreased their target price on ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

Insiders Place Their Bets

In other news, CAO Michele O’connor sold 1,678 shares of ServiceTitan stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $176,693.40. Following the transaction, the chief accounting officer owned 89,571 shares in the company, valued at approximately $9,431,826.30. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $100.62, for a total value of $1,648,960.56. Following the transaction, the president directly owned 1 shares in the company, valued at $100.62. The trade was a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 216,371 shares of company stock worth $22,700,994. 51.72% of the stock is currently owned by corporate insiders.

ServiceTitan 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.