PharVision Advisers LLC Takes Position in TaskUs, Inc. $TASK

Key Points

• PharVision Advisers LLC acquired 17,245 shares of TaskUs, Inc. valued at approximately $235,000 in the 1st quarter.
• Increased institutional interest is noted, with multiple hedge funds significantly raising their stakes in TaskUs during the same quarter.
• TaskUs stock's performance shows fluctuations, with an average price target of $18.00 and a recent opening price of $18.18.

PharVision Advisers LLC purchased a new stake in TaskUs, Inc. (NASDAQ:TASK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,245 shares of the company's stock, valued at approximately $235,000.

A number of other large investors have also recently modified their holdings of the company. PDT Partners LLC boosted its holdings in shares of TaskUs by 114.2% in the first quarter. PDT Partners LLC now owns 96,798 shares of the company's stock valued at $1,319,000 after purchasing an additional 51,609 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in TaskUs by 913.6% during the first quarter. Cubist Systematic Strategies LLC now owns 158,306 shares of the company's stock worth $2,158,000 after buying an additional 142,688 shares during the period. Quarry LP purchased a new stake in TaskUs during the first quarter worth $83,000. Trexquant Investment LP lifted its holdings in TaskUs by 697.4% during the first quarter. Trexquant Investment LP now owns 141,562 shares of the company's stock worth $1,929,000 after buying an additional 123,809 shares during the period. Finally, AlphaQuest LLC lifted its holdings in TaskUs by 1,153.0% during the first 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 period. Hedge funds and other institutional investors own 44.64% of the company's stock.

Wall Street Analyst Weigh In

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

TaskUs Stock Performance

Shares of NASDAQ TASK traded down $0.04 during mid-day trading on Friday, hitting $17.36. The stock had a trading volume of 107,534 shares, compared to its average volume of 381,805. 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 50 day moving average of $17.23 and a two-hundred day moving average of $15.65. TaskUs, Inc. has a twelve month low of $10.57 and a twelve month high of $19.60. The firm has a market cap of $1.56 billion, a PE ratio of 25.15 and a beta of 2.16.

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.