Inspire Investing LLC Acquires New Position in TaskUs, Inc. $TASK

Key Points

• Inspire Investing LLC acquired 25,295 shares of TaskUs, Inc. for approximately $345,000 in the first quarter, indicating increasing institutional interest in the company's stock.
• Analysts have mixed views on TaskUs, with Zacks Research upgrading the stock to a "strong-buy" rating, while Morgan Stanley downgraded it and reduced its price target from $21 to $16.50.
• TaskUs currently has a market capitalization of $1.56 billion and a consensus rating of "Hold" with an average price target of $16.88.

Inspire Investing LLC acquired a new position in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,295 shares of the company's stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Two Sigma Investments LP lifted its position in TaskUs by 25.5% in the 4th quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock worth $4,775,000 after buying an additional 57,248 shares during the last quarter. Bank of America Corp DE lifted its position in TaskUs by 95.8% in the 4th quarter. Bank of America Corp DE now owns 68,783 shares of the company's stock worth $1,165,000 after buying an additional 33,661 shares during the last quarter. AlphaQuest LLC lifted its position in TaskUs by 1,153.0% in the 1st quarter. AlphaQuest LLC now owns 23,845 shares of the company's stock worth $325,000 after buying an additional 21,942 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in TaskUs in the 1st quarter worth approximately $2,576,000. Finally, Ritholtz Wealth Management bought a new stake in TaskUs in the 1st quarter worth approximately $236,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

TaskUs Trading Down 0.1%

Shares of TaskUs stock traded down $0.01 during midday trading on Friday, reaching $17.54. 845,508 shares of the company's stock traded hands, compared to its average volume of 523,289. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.84 and a current ratio of 2.84. The company has a market cap of $1.58 billion, a PE ratio of 25.42 and a beta of 2.16. The stock has a 50 day moving average of $17.31 and a 200-day moving average of $15.78. TaskUs, Inc. has a 12 month low of $10.57 and a 12 month high of $19.60.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TASK shares. Zacks Research upgraded TaskUs from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Morgan Stanley downgraded TaskUs from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $21.00 to $16.50 in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.88.

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.