Whittier Trust Co. of Nevada Inc. Grows Position in ServiceTitan Inc. $TTAN

Whittier Trust Co. of Nevada Inc. raised its position in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 81.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,475 shares of the company’s stock after buying an additional 25,374 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in ServiceTitan were worth $3,558,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Toth Financial Advisory Corp raised its holdings 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 in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. bought a new stake in ServiceTitan in the fourth quarter worth $30,000. Elevation Wealth Partners LLC bought a new stake in ServiceTitan in the fourth quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. BTIG Research boosted their target price on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Robert W. Baird increased their price target on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research report on Wednesday, May 27th. Finally, BMO Capital Markets boosted their price objective on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Performance

NASDAQ TTAN traded up $2.08 on Tuesday, hitting $79.87. 299,514 shares of the stock were exchanged, compared to its average volume of 1,464,949. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99. The firm has a market capitalization of $7.62 billion, a P/E ratio of -54.95 and a beta of 0.13. The stock has a fifty day moving average price of $66.29 and a two-hundred day moving average price of $74.08.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the business earned $0.18 EPS. The business’s revenue was up 24.6% on a year-over-year basis. Sell-side analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Sherry sold 20,192 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $1,336,508.48. Following the completion of the sale, the chief financial officer owned 398,033 shares in the company, valued at approximately $26,345,804.27. The trade was a 4.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 244,807 shares of company stock worth $15,649,413 over the last three months. 39.89% of the stock is currently owned by company insiders.

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.