Robeco Institutional Asset Management B.V. Acquires New Stake in ServiceTitan Inc. $TTAN

Robeco Institutional Asset Management B.V. bought a new stake in ServiceTitan Inc. (NASDAQ:TTAN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,336 shares of the company’s stock, valued at approximately $941,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP raised its position in shares of 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 buying an additional 95 shares during the last quarter. Perpetual Ltd purchased a new stake in ServiceTitan in the 2nd quarter worth approximately $324,000. Northside Capital Management LLC acquired a new position in ServiceTitan in the 2nd quarter valued at $284,000. TD Private Client Wealth LLC purchased a new position in shares of ServiceTitan during the 2nd quarter worth $1,041,000. Finally, Perigon Wealth Management LLC purchased a new position in shares of ServiceTitan during the 2nd quarter worth $2,844,000.

Insider Activity

In related news, CFO David Sherry sold 11,672 shares of ServiceTitan stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the sale, the chief financial officer owned 331,781 shares of the company’s stock, valued at $34,936,539.30. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 3,038 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $319,901.40. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 323,910 shares of company stock valued at $32,324,141 in the last 90 days. Company insiders own 51.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTAN has been the subject of several analyst reports. TD Cowen upped their target price on ServiceTitan from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Stifel Nicolaus lifted their price target on ServiceTitan from $135.00 to $145.00 and gave the company a “buy” rating in a report on Friday, September 19th. Wells Fargo & Company upped their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. Finally, BTIG Research initiated coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.53.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN opened at $109.23 on Monday. The business’s 50-day simple moving average is $98.59 and its 200 day simple moving average is $103.79. The company has a market cap of $10.23 billion and a P/E ratio of -26.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan Inc. has a one year low of $79.81 and a one year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.ServiceTitan’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. On average, sell-side analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

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.