Victory Capital Management Inc. Purchases 20,270 Shares of ServiceTitan Inc. (NASDAQ:TTAN)

Victory Capital Management Inc. lifted its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,850 shares of the company’s stock after acquiring an additional 20,270 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of ServiceTitan worth $11,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in ServiceTitan by 11.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 533,409 shares of the company’s stock valued at $50,733,000 after acquiring an additional 53,235 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in ServiceTitan by 22.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,044,914 shares of the company’s stock worth $99,382,000 after acquiring an additional 190,476 shares during the last quarter. LRI Investments LLC purchased a new stake in ServiceTitan during the 1st quarter valued at $58,000. New York State Common Retirement Fund grew its position in shares of ServiceTitan by 52.0% during the 1st quarter. New York State Common Retirement Fund now owns 54,552 shares of the company’s stock valued at $5,188,000 after acquiring an additional 18,663 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in ServiceTitan in the 1st quarter worth $598,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cowen restated a “buy” rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Loop Capital reaffirmed a “hold” rating and set a $100.00 target price (up from $90.00) on shares of ServiceTitan in a research note on Friday, June 6th. KeyCorp set a $140.00 price target on shares of ServiceTitan and gave the company an “overweight” rating in a research note on Wednesday, July 16th. TD Cowen initiated coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Morgan Stanley upped their target price on shares of ServiceTitan from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

ServiceTitan Stock Up 0.1%

NASDAQ TTAN opened at $117.25 on Thursday. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $111.88 and a 200 day moving average of $105.29. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to the consensus estimate of $208.61 million. ServiceTitan’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, Director William J.G. Griffith sold 90,917 shares of the business’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the transaction, the director owned 483,635 shares of the company’s stock, valued at approximately $53,195,013.65. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total value of $51,000,000.00. Following the completion of the sale, the insider owned 8,503,571 shares in the company, valued at $867,364,242. This represents a 5.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,412,338 shares of company stock valued at $150,374,391. 51.72% of the stock is owned by company insiders.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.