SG Americas Securities LLC Boosts Stake in TaskUs, Inc. (NASDAQ:TASK)

SG Americas Securities LLC raised its holdings in shares of TaskUs, Inc. (NASDAQ:TASK) by 217.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 350,719 shares of the company’s stock after buying an additional 240,093 shares during the period. SG Americas Securities LLC’s holdings in TaskUs were worth $5,941,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. US Bancorp DE boosted its holdings in TaskUs by 101.2% during 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 period. CWM LLC lifted its position in shares of TaskUs by 25,053.3% during the third quarter. CWM LLC now owns 7,546 shares of the company’s stock worth $97,000 after purchasing an additional 7,516 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of TaskUs by 186.7% during 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 during the period. Paloma Partners Management Co bought a new position in shares of TaskUs in the third quarter worth about $139,000. Finally, Olympiad Research LP purchased a new position in TaskUs in the 3rd quarter worth about $143,000. Institutional investors own 44.64% of the company’s stock.

Insider Buying and Selling

In related news, CAO Steven Amaya sold 2,600 shares of TaskUs stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.08, for a total value of $47,008.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephan Daoust sold 62,159 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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. Insiders have sold a total of 140,338 shares of company stock worth $2,548,902 in the last ninety days. 29.26% of the stock is owned by insiders.

TaskUs Stock Performance

TASK stock opened at $16.64 on Friday. TaskUs, Inc. has a one year low of $10.56 and a one year high of $19.60. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 4.54 and a beta of 2.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a 50-day simple moving average of $16.02 and a two-hundred day simple moving average of $14.55.

TaskUs (NASDAQ:TASK) last announced its earnings results on Thursday, November 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $255.35 million during the quarter, compared to analyst estimates of $245.24 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. During the same quarter last year, the business earned $0.19 earnings per share. On average, equities analysts forecast that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TASK. Robert W. Baird boosted their price objective on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, December 9th. Finally, Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $21.00 in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.00.

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.