ServiceTitan Inc. $TTAN Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lessened its stake in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,431 shares of the company’s stock after selling 7,033 shares during the quarter. WCM Investment Management LLC’s holdings in ServiceTitan were worth $10,701,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TTAN. Vanguard Group Inc. lifted its holdings in ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after acquiring an additional 439,079 shares during the period. Renaissance Capital LLC grew its stake in shares of ServiceTitan by 222.8% during the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares during the period. Zevenbergen Capital Investments LLC acquired a new position in shares of ServiceTitan during the 4th quarter worth $4,281,000. Comerica Bank increased 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 purchasing an additional 20,899 shares in the last quarter. Finally, Robeco Schweiz AG lifted its stake in shares of ServiceTitan by 35.3% in the fourth quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock valued at $8,861,000 after purchasing an additional 21,700 shares during the period.

Insider Activity

In related news, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the director owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the insider owned 443,221 shares in the company, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 296,664 shares of company stock worth $19,958,797. 39.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on TTAN shares. TD Cowen boosted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Robert W. Baird lifted their price target on shares of ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research note on Wednesday, May 27th. Piper Sandler upped their price target on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ServiceTitan 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 given a Sell rating to the company. Based on data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan Trading Up 4.6%

NASDAQ:TTAN opened at $79.46 on Tuesday. The firm has a 50-day moving average price of $69.61 and a two-hundred day moving average price of $71.99. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99. The company has a market capitalization of $7.58 billion, a P/E ratio of -54.80 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million for 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 company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, equities research analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

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.