GW&K Investment Management LLC Sells 9,667 Shares of ServiceTitan Inc. $TTAN

GW&K Investment Management LLC cut its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 355,159 shares of the company’s stock after selling 9,667 shares during the period. GW&K Investment Management LLC’s holdings in ServiceTitan were worth $37,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Woodline Partners LP grew its position in ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares during the last quarter. Cetera Investment Advisers bought a new position in ServiceTitan in the second quarter valued at about $345,000. Russell Investments Group Ltd. bought a new position in ServiceTitan in the second quarter valued at about $500,000. Northwestern Mutual Wealth Management Co. grew its position 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 acquiring an additional 392 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in ServiceTitan in the second quarter valued at about $393,000.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the sale, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ara Mahdessian sold 2,288 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $159,839.68. Following the sale, the chief executive officer directly owned 1 shares in the company, valued at $69.86. The trade was a 99.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 43,440 shares of company stock valued at $2,972,868. 39.89% of the stock is owned by insiders.

ServiceTitan Price Performance

TTAN opened at $71.39 on Thursday. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -49.23 and a beta of 0.13. The company’s 50 day moving average price is $63.86 and its two-hundred day moving average price is $77.69.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $257.40 million. During the same period in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities research analysts predict that ServiceTitan Inc. will post -0.62 EPS for the current year.

Analyst Ratings Changes

TTAN has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their target price on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. The Goldman Sachs Group decreased their target price on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research report on Friday, June 5th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Finally, Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday. Fifteen 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 stock. Based on data from MarketBeat, the stock presently 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.