Marsico Capital Management LLC Purchases Shares of 54,979 ServiceTitan Inc. $TTAN

Marsico Capital Management LLC acquired a new position in shares of ServiceTitan Inc. (NASDAQ:TTAN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 54,979 shares of the company’s stock, valued at approximately $5,855,000. Marsico Capital Management LLC owned 0.06% of ServiceTitan as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after acquiring an additional 439,079 shares during the period. JPMorgan Chase & Co. increased its position in shares of ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Franklin Resources Inc. increased its position in shares of ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after purchasing an additional 508,848 shares in the last quarter. Capital International Investors increased its position in shares of ServiceTitan by 23.9% during the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock worth $130,430,000 after purchasing an additional 236,287 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of ServiceTitan by 116.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock worth $110,745,000 after purchasing an additional 591,213 shares in the last quarter.

Insider Activity at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 17,778 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the sale, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the completion of the sale, the chief accounting officer owned 81,890 shares of the company’s stock, valued at $5,661,874.60. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 43,440 shares of company stock worth $2,972,868. 39.89% of the stock is owned by insiders.

ServiceTitan Trading Down 4.4%

TTAN opened at $68.24 on Friday. The stock has a market capitalization of $6.50 billion, a PE ratio of -47.06 and a beta of 0.13. ServiceTitan Inc. has a 1-year low of $54.17 and a 1-year high of $119.99. The firm has a 50-day moving average price of $63.95 and a two-hundred day moving average price of $77.56.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. On average, research analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTAN. Robert W. Baird increased their target price on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday. BTIG Research increased their target price on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research report on Friday, June 5th. Canaccord Genuity Group decreased their target price on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, TD Cowen raised their target price on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.