Lazard Asset Management LLC Grows Stock Position in ServiceTitan Inc. $TTAN

Lazard Asset Management LLC increased its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 1,067.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,574 shares of the company’s stock after purchasing an additional 80,989 shares during the quarter. Lazard Asset Management LLC owned 0.09% of ServiceTitan worth $5,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of ServiceTitan by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after buying an additional 439,079 shares in the last quarter. Renaissance Capital LLC raised its position in shares of ServiceTitan by 222.8% during the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock valued at $4,390,000 after buying an additional 28,454 shares in the last quarter. Comerica Bank lifted its holdings in shares of ServiceTitan by 372.3% in the 4th quarter. Comerica Bank now owns 26,513 shares of the company’s stock valued at $2,824,000 after acquiring an additional 20,899 shares during the last quarter. Robeco Schweiz AG lifted its holdings in shares of ServiceTitan by 35.3% in the 4th quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock valued at $8,861,000 after acquiring an additional 21,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in ServiceTitan by 20.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 321,815 shares of the company’s stock worth $32,693,000 after acquiring an additional 55,256 shares in the last quarter.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $79.87 on Friday. The stock has a 50 day moving average price of $72.04 and a 200 day moving average price of $70.34. 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 -55.08 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating 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 company had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the prior year, the company posted $0.18 EPS. ServiceTitan’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insider Transactions at ServiceTitan

In other news, CEO Ara Mahdessian sold 51,947 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J.G. Griffith sold 94,415 shares of ServiceTitan stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the director owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 296,664 shares of company stock valued at $19,958,797. Company insiders own 39.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TTAN shares. Citigroup restated a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. BTIG Research reiterated a “buy” rating and issued a $110.00 target price on shares of ServiceTitan in a report on Friday, July 10th. BMO Capital Markets increased their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. UBS Group restated a “buy” rating on shares of ServiceTitan in a research report on Wednesday, July 22nd. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceTitan has a consensus rating of “Moderate Buy” and a consensus target price of $110.53.

About ServiceTitan

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.