Artisan Partners Limited Partnership Has $110.75 Million Holdings in ServiceTitan Inc. $TTAN

Artisan Partners Limited Partnership grew its position in ServiceTitan Inc. (NASDAQ:TTAN) by 116.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,098,329 shares of the company’s stock after acquiring an additional 591,213 shares during the period. Artisan Partners Limited Partnership owned 1.18% of ServiceTitan worth $110,745,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TTAN. Cloud Capital Management LLC bought a new position in ServiceTitan in the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 buying an additional 392 shares during the period. Whittier Trust Co. acquired a new position in shares of ServiceTitan in the third quarter valued at approximately $52,000. PNC Financial Services Group Inc. bought a new position in ServiceTitan in the 2nd quarter valued at approximately $79,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in ServiceTitan during the 2nd quarter worth approximately $94,000.

Insiders Place Their Bets

In other news, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction on Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. The SEC filing for this sale provides additional information. Insiders sold a total of 216,371 shares of company stock valued at $22,700,994 in the last ninety days. 51.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TTAN has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. BTIG Research assumed coverage on ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price for the company. TD Cowen reiterated a “buy” rating on shares of ServiceTitan in a research report on Monday. Finally, BMO Capital Markets raised their price objective on ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.13.

ServiceTitan Stock Performance

Shares of TTAN opened at $72.39 on Friday. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $85.45 and its two-hundred day simple moving average is $95.39. ServiceTitan Inc. has a 12 month low of $58.01 and a 12 month high of $131.33. The stock has a market capitalization of $6.78 billion, a P/E ratio of -17.74 and a beta of -0.86.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. During the same period last year, the company posted $0.75 EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current 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.