Jacobs Levy Equity Management Inc. Has $2.31 Million Holdings in TaskUs, Inc. $TASK

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in TaskUs, Inc. by 19.4%, now holding 169,168 shares worth approximately $2.3 million after selling 40,668 shares.
• TaskUs stock is currently trading at $17.17, down 2.2%, with a market capitalization of $1.54 billion and includes a price-to-earnings ratio of 24.88.
• Analysts have mixed views on TaskUs, with Zacks Research upgrading the stock to a strong-buy rating while Morgan Stanley lowered its price target from $21 to $16.50.

Jacobs Levy Equity Management Inc. cut its stake in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 19.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,168 shares of the company's stock after selling 40,668 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.19% of TaskUs worth $2,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TASK. Ameriprise Financial Inc. lifted its holdings in shares of TaskUs by 7.9% during the 4th quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock worth $16,223,000 after acquiring an additional 69,704 shares during the period. BNP Paribas Financial Markets bought a new position in shares of TaskUs during the 4th quarter worth about $80,000. Bank of America Corp DE lifted its holdings in shares of TaskUs by 95.8% during the 4th quarter. Bank of America Corp DE now owns 68,783 shares of the company's stock worth $1,165,000 after acquiring an additional 33,661 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of TaskUs by 108.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 47,838 shares of the company's stock worth $810,000 after acquiring an additional 24,834 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of TaskUs during the 4th quarter worth about $265,000. 44.64% of the stock is owned by institutional investors.

TaskUs Price Performance

Shares of TaskUs stock traded down $0.03 during mid-day trading on Friday, reaching $17.36. 340,418 shares of the stock were exchanged, compared to its average volume of 436,495. 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 cap of $1.56 billion, a price-to-earnings ratio of 25.16 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 firm has a 50-day simple moving average of $17.24 and a 200 day simple moving average of $15.66.

Analysts Set New Price Targets

TASK has been the subject of a number of analyst reports. Zacks Research raised shares of TaskUs from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Morgan Stanley cut shares of TaskUs from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $21.00 to $16.50 in a research report on Tuesday. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.