Tocqueville Asset Management L.P. Buys New Position in TaskUs, Inc. $TASK

Key Points

• Tocqueville Asset Management L.P. has acquired 189,000 shares of TaskUs, Inc., valued at approximately $2.58 million, representing ownership of about 0.21% of the company as per its latest SEC filing.
• Institutional investors currently own 44.64% of TaskUs' stock, with notable purchases and increases in holdings from firms such as JPMorgan Chase and Dimensional Fund Advisors.
• Analysts have recently downgraded TaskUs from a "strong-buy" to a "hold" rating, with an average price target of $17.40 for the stock.

Tocqueville Asset Management L.P. acquired a new position in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 189,000 shares of the company's stock, valued at approximately $2,576,000. Tocqueville Asset Management L.P. owned approximately 0.21% of TaskUs at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Two Sigma Investments LP grew its holdings 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 worth $4,775,000 after purchasing an additional 57,248 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TaskUs by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company's stock worth $7,979,000 after purchasing an additional 23,713 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of TaskUs by 95.8% during the fourth quarter. Bank of America Corp DE now owns 68,783 shares of the company's stock worth $1,165,000 after purchasing an additional 33,661 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of TaskUs during the fourth quarter worth about $265,000. Finally, Ritholtz Wealth Management purchased a new position in shares of TaskUs during the first quarter worth about $236,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

TaskUs Trading Up 0.1%

TASK stock traded up $0.01 during midday trading on Friday, hitting $17.38. The company had a trading volume of 280,626 shares, compared to its average volume of 211,236. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42. TaskUs, Inc. has a 52 week low of $10.57 and a 52 week high of $19.60. The stock's 50 day moving average price is $16.99 and its 200 day moving average price is $15.44. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 25.19 and a beta of 2.16.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TASK shares. Royal Bank Of Canada cut their price objective on TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a report on Monday, May 12th. William Blair lowered TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Zacks Research raised TaskUs from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Baird R W lowered TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Robert W. Baird lowered TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 target price for the company. in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $17.40.

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.