Capital International Investors Acquires 7,237 Shares of ServiceTitan Inc. $TTAN

Capital International Investors lifted its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 0.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 988,412 shares of the company’s stock after buying an additional 7,237 shares during the quarter. Capital International Investors owned about 1.06% of ServiceTitan worth $99,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TTAN. Sandhill Capital Partners LLC bought a new stake in ServiceTitan during the 3rd quarter worth about $27,062,000. WINTON GROUP Ltd acquired a new position in shares of ServiceTitan during the third quarter worth approximately $968,000. Russell Investments Group Ltd. lifted its position in shares of ServiceTitan by 98.4% during the third quarter. Russell Investments Group Ltd. now owns 9,256 shares of the company’s stock worth $933,000 after purchasing an additional 4,590 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of ServiceTitan during the third quarter valued at approximately $686,000. Finally, PFG Advisors bought a new stake in shares of ServiceTitan during the third quarter valued at approximately $289,000.

Analyst Ratings Changes

Several research analysts recently weighed in on TTAN shares. BTIG Research assumed coverage on shares of ServiceTitan in a research report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective for the company. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. BMO Capital Markets dropped their target price on ServiceTitan from $125.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Morgan Stanley upped their price target on ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. Finally, Piper Sandler decreased their price target on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.06.

Insider Buying and Selling

In related news, CAO Michele O’connor sold 1,678 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $176,693.40. Following the completion of the transaction, the chief accounting officer owned 89,571 shares in the company, valued at approximately $9,431,826.30. The trade was a 1.84% 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, CEO Ara Mahdessian sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total transaction of $3,152,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 85,180 shares of company stock valued at $8,620,383. Insiders own 51.72% of the company’s stock.

ServiceTitan Trading Up 0.8%

NASDAQ:TTAN opened at $78.49 on Thursday. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. ServiceTitan Inc. has a 1-year low of $58.01 and a 1-year high of $131.33. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of -19.24 and a beta of -0.72. The business’s 50-day moving average price is $80.65 and its two-hundred day moving average price is $93.93.

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.