Kayne Anderson Rudnick Investment Management LLC Makes New $12.85 Million Investment in ServiceTitan Inc. (NASDAQ:TTAN)

Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 124,957 shares of the company's stock, valued at approximately $12,854,000. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.16% of ServiceTitan as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of TTAN. Vanguard Group Inc. purchased a new position in ServiceTitan in the 4th quarter worth approximately $57,349,000. TimesSquare Capital Management LLC bought a new position in shares of ServiceTitan during the fourth quarter worth $87,896,000. Battery Management Corp. purchased a new position in ServiceTitan during the fourth quarter valued at $496,599,000. Avantax Advisory Services Inc. bought a new stake in ServiceTitan in the 4th quarter valued at $227,000. Finally, Artisan Partners Limited Partnership purchased a new stake in ServiceTitan in the 4th quarter worth $26,439,000.

ServiceTitan Stock Down 0.5 %

NASDAQ:TTAN traded down $0.62 during midday trading on Friday, reaching $125.37. 213,412 shares of the stock traded hands, compared to its average volume of 385,480. ServiceTitan Inc. has a 12-month low of $79.81 and a 12-month high of $128.16. The firm has a 50-day moving average price of $97.85.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $125.00 price objective on shares of ServiceTitan in a report on Friday, March 14th. Morgan Stanley lifted their price target on ServiceTitan from $104.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. KeyCorp raised their price objective on ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday. Canaccord Genuity Group increased their price target on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Robert W. Baird initiated coverage on shares of ServiceTitan in a research report on Friday, December 27th. They set an "outperform" rating and a $117.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $117.08.

Insiders Place Their Bets

In related news, CFO David Sherry sold 10,175 shares of ServiceTitan stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michele O'connor sold 5,494 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the sale, the chief accounting officer now directly owns 89,302 shares in the company, valued at approximately $8,452,434.30. This represents a 5.80 % decrease in their position. The disclosure for this sale can be found here.

ServiceTitan Company Profile

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.