Raymond James & Associates Has $1.99 Million Stock Position in TaskUs, Inc. (NASDAQ:TASK)

Raymond James & Associates increased its position in shares of TaskUs, Inc. (NASDAQ:TASKGet Rating) by 12.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 123,869 shares of the company’s stock after purchasing an additional 13,796 shares during the quarter. Raymond James & Associates’ holdings in TaskUs were worth $1,994,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in TaskUs by 31.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,040,785 shares of the company’s stock worth $51,268,000 after purchasing an additional 734,156 shares during the last quarter. Wasatch Advisors Inc. grew its position in shares of TaskUs by 47.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,138,576 shares of the company’s stock worth $82,250,000 after buying an additional 683,441 shares during the period. Cheyne Capital Management UK LLP bought a new stake in shares of TaskUs during the second quarter worth approximately $2,495,000. Bank of America Corp DE lifted its holdings in TaskUs by 117.0% in the first quarter. Bank of America Corp DE now owns 230,378 shares of the company’s stock valued at $8,861,000 after buying an additional 124,221 shares during the period. Finally, Millennium Management LLC boosted its stake in TaskUs by 86.6% in the second quarter. Millennium Management LLC now owns 199,670 shares of the company’s stock valued at $3,366,000 after acquiring an additional 92,646 shares during the last quarter. Institutional investors own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TASK. Wells Fargo & Company cut shares of TaskUs from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $18.00 to $17.00 in a research report on Monday, January 9th. Robert W. Baird cut their target price on TaskUs from $24.00 to $22.00 in a research note on Wednesday, December 14th. BTIG Research reduced their target price on TaskUs to $30.00 in a report on Tuesday, November 15th. Finally, JPMorgan Chase & Co. upped their price target on TaskUs from $24.00 to $25.00 in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.25.

TaskUs Stock Down 0.1 %

NASDAQ:TASK opened at $18.38 on Tuesday. TaskUs, Inc. has a 1 year low of $13.60 and a 1 year high of $41.87. The stock has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $18.09. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 1.24 and a beta of 2.73. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.61.

TaskUs (NASDAQ:TASKGet Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.09). The business had revenue of $232.13 million during the quarter, compared to analyst estimates of $225.02 million. TaskUs had a net margin of 4.63% and a return on equity of 10.58%. As a group, equities analysts expect that TaskUs, Inc. will post 0.83 earnings per share for the current year.

About TaskUs

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TaskUs, Inc provides digital outsourcing services for companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

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Institutional Ownership by Quarter for TaskUs (NASDAQ:TASK)

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