TaskUs, Inc. (NASDAQ:TASK) Stake Increased by Royce & Associates LP

Key Points

• Royce & Associates LP increased its holdings in TaskUs, Inc. by 6.4% in the 1st quarter, now owning 790,289 shares valued at approximately $10.77 million.
• Multiple institutional investors, including Think Investments LP and Ameriprise Financial Inc., have also raised their stakes in TaskUs during recent quarters, reflecting growing institutional interest.
• Wall Street analysts have downgraded TaskUs, with William Blair and Royal Bank of Canada both modifying their ratings and reducing price targets, signaling a cautious outlook.

Royce & Associates LP increased its holdings in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 790,289 shares of the company's stock after buying an additional 47,610 shares during the period. Royce & Associates LP owned about 0.88% of TaskUs worth $10,772,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Think Investments LP increased its position in shares of TaskUs by 14.5% in the 4th quarter. Think Investments LP now owns 2,881,513 shares of the company's stock valued at $48,813,000 after purchasing an additional 364,608 shares during the last quarter. SG Americas Securities LLC boosted its stake in TaskUs by 85.9% during the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company's stock worth $8,885,000 after purchasing an additional 301,119 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of TaskUs by 7.9% in 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. Two Sigma Investments LP lifted its stake in shares of 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 acquiring an additional 57,248 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of TaskUs by 26.8% in the 4th quarter. Two Sigma Advisers LP now owns 264,800 shares of the company's stock worth $4,486,000 after acquiring an additional 55,900 shares during the period. 44.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on TASK shares. Baird R W cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. William Blair downgraded shares of TaskUs from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Royal Bank Of Canada decreased their target price on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Finally, Robert W. Baird cut shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 target price on the stock. in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.67.

TaskUs Stock Up 0.2%

Shares of TASK traded up $0.04 during mid-day trading on Tuesday, reaching $17.09. 43,883 shares of the stock traded hands, compared to its average volume of 385,071. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 28.05 and a beta of 2.16. The stock has a fifty day simple moving average of $16.83 and a 200 day simple moving average of $15.34. TaskUs, Inc. has a 12-month low of $10.57 and a 12-month high of $19.60. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.45.

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.