Cubist Systematic Strategies LLC Has $2.16 Million Stake 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 raised its position in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) by 913.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,306 shares of the company's stock after acquiring an additional 142,688 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.18% of TaskUs worth $2,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in TaskUs by 9.6% during the fourth quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock valued at $167,000 after acquiring an additional 873 shares during the period. American Century Companies Inc. lifted its stake in shares of TaskUs by 12.1% in the first quarter. American Century Companies Inc. now owns 41,359 shares of the company's stock valued at $564,000 after buying an additional 4,471 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of TaskUs in the first quarter valued at about $63,000. BNP Paribas Financial Markets bought a new stake in shares of TaskUs in the fourth quarter valued at about $80,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of TaskUs in the fourth quarter valued at about $83,000. 44.64% of the stock is currently owned by institutional investors.

TaskUs Price Performance

NASDAQ:TASK traded down $0.03 during mid-day trading on Friday, hitting $17.36. The company's stock had a trading volume of 340,418 shares, compared to its average volume of 436,495. TaskUs, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $19.60. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 25.16 and a beta of 2.16. The stock has a fifty day moving average of $17.24 and a 200-day moving average of $15.66.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of TaskUs from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $21.00 to $16.50 in a research note on Tuesday. Zacks Research upgraded shares of TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.88.

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.