Healthcare of Ontario Pension Plan Trust Fund Has $1.71 Million Position in ServiceTitan Inc. $TTAN

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 87.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,000 shares of the company’s stock after selling 186,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ServiceTitan were worth $1,713,000 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 TTAN. Toth Financial Advisory Corp boosted its position in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. acquired a new position in ServiceTitan in the fourth quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% in the second 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 period. Finally, Sunbelt Securities Inc. boosted its holdings in shares of ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after buying an additional 391 shares in the last quarter.

Insider Buying and Selling

In other news, Director Byron B. Deeter sold 8,845 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total value of $560,330.75. Following the completion of the sale, the director owned 13,782 shares in the company, valued at $873,089.70. This represents a 39.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 51,947 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 296,664 shares of company stock valued at $19,958,797 over the last 90 days. 39.89% of the stock is currently owned by company insiders.

ServiceTitan Stock Performance

Shares of TTAN opened at $83.06 on Friday. The firm has a market capitalization of $7.92 billion, a P/E ratio of -57.28 and a beta of 0.13. ServiceTitan Inc. has a 52 week low of $54.17 and a 52 week high of $119.99. The stock has a 50 day moving average price of $72.44 and a two-hundred day moving average price of $70.42.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TTAN shares. Robert W. Baird upped their price objective 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 target price on ServiceTitan in a report on Wednesday, May 27th. Piper Sandler lifted their price target on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. BMO Capital Markets boosted their price target on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Tuesday, July 21st. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

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.