Ritholtz Wealth Management Makes New Investment in TaskUs, Inc. (NASDAQ:TASK)

Ritholtz Wealth Management purchased a new position in TaskUs, Inc. (NASDAQ:TASK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,347 shares of the company's stock, valued at approximately $236,000.

A number of other hedge funds have also recently modified their holdings of the company. Think Investments LP grew its stake in shares of TaskUs by 14.5% in the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company's stock worth $48,813,000 after purchasing an additional 364,608 shares during the last quarter. SG Americas Securities LLC lifted its holdings in TaskUs by 85.9% in the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company's stock worth $8,885,000 after buying an additional 301,119 shares during the period. Royce & Associates LP grew its position in shares of TaskUs by 10.9% in the 4th quarter. Royce & Associates LP now owns 742,679 shares of the company's stock worth $12,581,000 after buying an additional 73,100 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of TaskUs by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock valued at $16,223,000 after buying an additional 69,704 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of TaskUs by 25.5% during the fourth quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock valued at $4,775,000 after buying an additional 57,248 shares during the period. Hedge funds and other institutional investors own 44.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TASK shares. Robert W. Baird cut shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target on the stock. in a report on Monday, May 12th. Baird R W lowered shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Royal Bank Of Canada decreased their price target on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, William Blair cut TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $16.86.

TaskUs Stock Up 0.2%

Shares of NASDAQ TASK traded up $0.03 on Tuesday, reaching $16.78. 256,475 shares of the company's stock traded hands, compared to its average volume of 324,789. The business's 50 day simple moving average is $15.59 and its two-hundred day simple moving average is $15.27. TaskUs, Inc. has a 12 month low of $10.57 and a 12 month high of $19.60. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 27.51 and a beta of 2.19. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.45.

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.