TaskUs, Inc. $TASK Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its stake in TaskUs, Inc. (NASDAQ:TASK) by 92.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,967 shares of the company’s stock after selling 136,633 shares during the period. Lazard Asset Management LLC’s holdings in TaskUs were worth $74,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in TaskUs by 11.9% during the first quarter. Goldman Sachs Group Inc. now owns 183,889 shares of the company’s stock valued at $2,506,000 after acquiring an additional 19,495 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of TaskUs by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock valued at $3,444,000 after purchasing an additional 647 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of TaskUs by 182.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 209,998 shares of the company’s stock valued at $3,520,000 after purchasing an additional 135,691 shares during the period. American Century Companies Inc. boosted its holdings in TaskUs by 4.9% during the second quarter. American Century Companies Inc. now owns 43,404 shares of the company’s stock worth $727,000 after buying an additional 2,045 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in TaskUs during the second quarter valued at $67,000. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Trading Down 6.6%

TASK stock opened at $7.30 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.73. TaskUs, Inc. has a 12-month low of $4.47 and a 12-month high of $18.39. The stock has a market cap of $668.53 million, a price-to-earnings ratio of 6.29 and a beta of 1.87. The business’s 50-day moving average is $5.63 and its 200 day moving average is $7.58.

TaskUs (NASDAQ:TASK) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $308.86 million during the quarter, compared to analysts’ expectations of $297.58 million. TaskUs had a return on equity of 24.48% and a net margin of 8.75%. On average, sell-side analysts anticipate that TaskUs, Inc. will post 1.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TASK shares. The Goldman Sachs Group decreased their price objective on shares of TaskUs from $10.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, May 7th. Wall Street Zen downgraded TaskUs from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of TaskUs in a report on Tuesday, July 14th. Wedbush reduced their target price on TaskUs from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Robert W. Baird set a $12.00 target price on TaskUs in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.40.

TaskUs Profile

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.