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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of TaskUs in the first quarter valued at approximately $63,000. BNP Paribas Financial Markets purchased a new position in shares of TaskUs in the fourth quarter valued at approximately $80,000. KLP Kapitalforvaltning AS purchased a new position in shares of TaskUs in the fourth quarter valued at approximately $81,000. Point72 Asset Management L.P. purchased a new position in shares of TaskUs in the fourth quarter valued at approximately $83,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of TaskUs in the fourth quarter valued at approximately $115,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TASK shares. Robert W. Baird lowered shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price objective for the company. 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 research note on Friday, May 9th. Baird R W downgraded shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $17.67.

TaskUs Stock Down 0.1%

Shares of NASDAQ:TASK traded down $0.02 during trading on Friday, hitting $17.06. 102,644 shares of the company were exchanged, compared to its average volume of 178,539. The stock has a market capitalization of $1.52 billion, a P/E ratio of 17.59 and a beta of 2.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.87 and a quick ratio of 2.87. TaskUs, Inc. has a 12-month low of $10.57 and a 12-month high of $19.60. The firm's 50 day moving average price is $16.82 and its 200-day moving average price is $15.33.

TaskUs 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.