Blue Trust Inc. Grows Position in TaskUs, Inc. (NASDAQ:TASK)

Blue Trust Inc. lifted its holdings in TaskUs, Inc. (NASDAQ:TASK) by 71.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,677 shares of the company’s stock after buying an additional 699 shares during the period. Blue Trust Inc.’s holdings in TaskUs were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its holdings in TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after acquiring an additional 2,516 shares during the last quarter. Quantbot Technologies LP grew its position in shares of TaskUs by 186.7% in the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after purchasing an additional 6,140 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of TaskUs in the third quarter valued at approximately $139,000. Olympiad Research LP purchased a new position in TaskUs during the third quarter worth approximately $143,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in TaskUs during the third quarter worth $174,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Steven Amaya sold 2,600 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.08, for a total transaction of $47,008.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stephan Daoust sold 62,159 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,338 shares of company stock valued at $2,548,902. 29.26% of the stock is currently owned by corporate insiders.

TaskUs Price Performance

Shares of TASK opened at $14.45 on Friday. The firm has a 50-day simple moving average of $16.09 and a two-hundred day simple moving average of $14.52. The stock has a market cap of $1.29 billion, a PE ratio of 24.49, a P/E/G ratio of 3.92 and a beta of 2.21. TaskUs, Inc. has a 1-year low of $10.56 and a 1-year high of $19.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02.

TaskUs (NASDAQ:TASK) last posted its earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). The company had revenue of $274.24 million during the quarter, compared to analyst estimates of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. As a group, analysts forecast that TaskUs, Inc. will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TASK shares. Robert W. Baird raised their target price on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, December 9th. Royal Bank of Canada boosted their target price on shares of TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.25.

TaskUs 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.