Cubist Systematic Strategies LLC Has $2.16 Million Holdings in TaskUs, Inc. $TASK

Key Points

• Cubist Systematic Strategies LLC increased its stake in TaskUs, Inc. by 913.6% during the 1st quarter, acquiring 142,688 additional shares for a total of 158,306, worth approximately $2.16 million.
• Analyst ratings for TaskUs are mixed, with Robert W. Baird downgrading it to a "neutral" rating and a target price of $16.50, while Zacks Research upgraded it to a "strong-buy."
• TaskUs currently has an average stock price of $18.18, with a significant market capitalization of $1.63 billion and a one-year price range between $10.57 and $19.60.

Cubist Systematic Strategies LLC increased its holdings in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) by 913.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,306 shares of the company's stock after buying an additional 142,688 shares during the period. Cubist Systematic Strategies LLC owned 0.18% of TaskUs worth $2,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TASK. Harbor Capital Advisors Inc. bought a new stake in shares of TaskUs during the first quarter worth approximately $63,000. BNP Paribas Financial Markets bought a new stake in shares of TaskUs during the fourth quarter worth approximately $80,000. Point72 Asset Management L.P. bought a new stake in shares of TaskUs during the fourth quarter worth approximately $83,000. Quarry LP bought a new stake in shares of TaskUs during the first quarter worth approximately $83,000. Finally, Lazard Asset Management LLC raised its stake in shares of TaskUs by 9.6% during the fourth quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock worth $167,000 after buying an additional 873 shares during the last quarter. 44.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TASK shares. Morgan Stanley downgraded shares of TaskUs from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $21.00 to $16.50 in a research note on Tuesday. Zacks Research raised shares of TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, TaskUs presently has an average rating of "Hold" and a consensus target price of $16.88.

TaskUs Trading Down 2.2%

NASDAQ TASK traded down $0.39 during trading on Wednesday, reaching $17.17. 713,755 shares of the stock traded hands, compared to its average volume of 381,833. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 24.88 and a beta of 2.16. TaskUs, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $19.60. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average price is $17.21 and its 200 day moving average price is $15.62.

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.