Bank of America Corp DE Increases Stock Holdings in TaskUs, Inc. (NASDAQ:TASK)

Bank of America Corp DE grew its stake in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) by 95.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,783 shares of the company's stock after purchasing an additional 33,661 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of TaskUs worth $1,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TASK. Blue Trust Inc. boosted its position in TaskUs by 71.5% during the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company's stock valued at $28,000 after buying an additional 699 shares during the period. BNP Paribas Financial Markets bought a new position in shares of TaskUs during the fourth quarter valued at about $80,000. KLP Kapitalforvaltning AS purchased a new stake in shares of TaskUs during the fourth quarter worth about $81,000. Russell Investments Group Ltd. purchased a new stake in shares of TaskUs during the fourth quarter worth about $115,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of TaskUs by 214.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,425 shares of the company's stock worth $194,000 after purchasing an additional 7,788 shares during the last quarter. Institutional investors own 44.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TASK shares. Robert W. Baird downgraded TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 target price for the company. in a report on Monday, May 12th. William Blair lowered TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Royal Bank of Canada decreased their price objective on TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Baird R W cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.86.

TaskUs Stock Up 0.3%

TaskUs stock traded up $0.05 during trading hours on Tuesday, hitting $16.73. The stock had a trading volume of 223,806 shares, compared to its average volume of 324,159. The stock's 50-day moving average price is $14.81 and its 200-day moving average price is $15.16. The stock has a market capitalization of $1.49 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 3.92 and a beta of 2.19. TaskUs, Inc. has a 12-month low of $10.57 and a 12-month high of $19.60. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

Insiders Place Their Bets

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 30.63% of the company's stock.

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.