TaskUs, Inc. (NASDAQ:TASK) is Think Investments LP’s 2nd Largest Position

Think Investments LP raised its position in TaskUs, Inc. (NASDAQ:TASK) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,881,513 shares of the company’s stock after purchasing an additional 364,608 shares during the period. TaskUs accounts for about 10.7% of Think Investments LP’s portfolio, making the stock its 2nd largest position. Think Investments LP’s holdings in TaskUs were worth $48,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in TaskUs in the third quarter valued at $1,006,000. Janney Montgomery Scott LLC purchased a new stake in shares of TaskUs during the fourth quarter worth about $613,000. Raymond James Financial Inc. purchased a new stake in shares of TaskUs during the fourth quarter worth about $408,000. Vontobel Holding Ltd. purchased a new stake in shares of TaskUs during the fourth quarter worth about $338,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of TaskUs by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company’s stock worth $7,979,000 after purchasing an additional 23,713 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Stock Down 0.7%

Shares of NASDAQ TASK opened at $16.60 on Friday. TaskUs, Inc. has a 12-month low of $10.57 and a 12-month high of $19.60. The stock has a market cap of $1.49 billion, a PE ratio of 28.14, a P/E/G ratio of 3.92 and a beta of 2.16. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $13.73 and a 200 day moving average of $14.90.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. The business had revenue of $274.24 million for the quarter, compared to analysts’ expectations of $268.65 million. As a group, sell-side analysts predict that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TASK has been the subject of a number of research reports. Baird R W cut shares of TaskUs from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Robert W. Baird cut shares of TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 target price for the company. in a research note on Monday, May 12th. Royal Bank of Canada cut their target price on shares of TaskUs from $20.00 to $16.50 and set a “sector perform” rating for the company in a research note on Monday, May 12th. Finally, William Blair cut shares of TaskUs from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.86.

Insider Activity at TaskUs

In related news, insider Jarrod Johnson sold 15,460 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total transaction of $204,845.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 30.63% of the stock is owned by corporate insiders.

About TaskUs

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.