Eventide Asset Management LLC Grows Position in ServiceTitan Inc. $TTAN

Eventide Asset Management LLC boosted its stake in ServiceTitan Inc. (NASDAQ:TTAN) by 1,888.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178,616 shares of the company’s stock after purchasing an additional 169,634 shares during the quarter. Eventide Asset Management LLC’s holdings in ServiceTitan were worth $19,024,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Bullseye Asset Management LLC grew its holdings in ServiceTitan by 122.0% in the fourth quarter. Bullseye Asset Management LLC now owns 21,836 shares of the company’s stock valued at $2,325,000 after purchasing an additional 12,000 shares during the period. Kestra Advisory Services LLC purchased a new stake in ServiceTitan in the fourth quarter valued at approximately $194,000. The Manufacturers Life Insurance Company grew its holdings in ServiceTitan by 10.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 15,391 shares of the company’s stock valued at $1,639,000 after purchasing an additional 1,517 shares during the period. Inspire Advisors LLC purchased a new stake in ServiceTitan in the fourth quarter valued at approximately $373,000. Finally, Segall Bryant & Hamill LLC grew its holdings in ServiceTitan by 4.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 115,198 shares of the company’s stock valued at $12,269,000 after purchasing an additional 5,135 shares during the period.

Analyst Ratings Changes

TTAN has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a research note on Friday, June 5th. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research note on Wednesday, May 27th. BTIG Research boosted their price objective on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Robert W. Baird boosted their price objective on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. 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. According to data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $66.77 on Monday. The company has a market capitalization of $6.37 billion, a PE ratio of -46.05 and a beta of 0.12. The firm has a fifty day simple moving average of $64.04 and a 200-day simple moving average of $77.40. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results 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 business had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities research analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insider Activity

In other news, President Vahe Kuzoyan sold 3,220 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the transaction, the president directly owned 1 shares in the company, valued at approximately $69.86. This represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michele O’connor sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 81,890 shares in the company, valued at $5,661,874.60. This represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,440 shares of company stock valued at $2,972,868 over the last ninety days. 39.89% of the stock is owned by company insiders.

ServiceTitan 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.