Madison Mid Cap Fund Says ServiceTitan Unfairly Punished on AI Fears

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โดย Insider Monkey·Read original
Summary · why it matters

Madison Mid Cap Fund believes ServiceTitan is being unfairly punished as investor fears around AI disrupting software businesses led to indiscriminate selling across the industry. The fund highlighted ServiceTitan as one of the bottom five detractors for the first quarter of 2026, alongside Gartner, Brown & Brown, Thor Industries, and Medpace Holdings. ServiceTitan shares lost 35.75% over the past 52 weeks and closed at $70.20 on June 29, 2026, with a market capitalization of $6.69 billion. The fund added to its position, arguing that ServiceTitan dominates its niche of residential and commercial contractors with low-cost, essential software that is very sticky and difficult to displace. The Madison Mid Cap Fund Class I declined 4.28% in the quarter, compared to a 1.29% return for the Russell Midcap Index.

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