Vanguard Group Inc. Sells 86,476 Shares of TaskUs, Inc. (NASDAQ:TASK)

Vanguard Group Inc. lessened its stake in TaskUs, Inc. (NASDAQ:TASK) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,255,584 shares of the company’s stock after selling 86,476 shares during the period. Vanguard Group Inc. owned 2.53% of TaskUs worth $23,413,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in TaskUs in the 1st quarter worth approximately $42,000. Canada Pension Plan Investment Board bought a new position in TaskUs in the 1st quarter worth approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in TaskUs in the 2nd quarter worth approximately $61,000. Lazard Asset Management LLC raised its position in TaskUs by 60.0% in the 1st quarter. Lazard Asset Management LLC now owns 4,000 shares of the company’s stock worth $153,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its position in TaskUs by 206.6% in the 1st quarter. Ensign Peak Advisors Inc now owns 6,960 shares of the company’s stock worth $268,000 after purchasing an additional 4,690 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

TaskUs Price Performance

TASK opened at $11.37 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.58. TaskUs, Inc. has a 12 month low of $7.95 and a 12 month high of $15.15. The company has a fifty day simple moving average of $12.11 and a 200 day simple moving average of $11.74. The stock has a market cap of $1.01 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.15 and a beta of 2.35.

TaskUs (NASDAQ:TASK) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. TaskUs had a net margin of 4.94% and a return on equity of 16.91%. The business had revenue of $234.26 million during the quarter, compared to analysts’ expectations of $225.96 million. On average, research analysts expect that TaskUs, Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

TASK has been the subject of several research analyst reports. Bank of America boosted their price objective on shares of TaskUs from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their target price on shares of TaskUs from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Guggenheim began coverage on shares of TaskUs in a report on Tuesday, March 19th. They set a “neutral” rating and a $13.00 target price for the company. Finally, Citigroup lifted their target price on shares of TaskUs from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.63.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.