Renaissance Technologies LLC Purchases 32,500 Shares of TaskUs, Inc. (NASDAQ:TASK)

Renaissance Technologies LLC boosted its holdings in shares of TaskUs, Inc. (NASDAQ:TASK - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 497,623 shares of the company's stock after acquiring an additional 32,500 shares during the period. Renaissance Technologies LLC owned approximately 0.56% of TaskUs worth $8,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TASK. Jane Street Group LLC raised its position in TaskUs by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company's stock valued at $281,000 after buying an additional 1,959 shares during the last quarter. XTX Topco Ltd acquired a new position in TaskUs during the 3rd quarter worth approximately $269,000. Barclays PLC boosted its position in TaskUs by 24.9% during the 3rd quarter. Barclays PLC now owns 24,774 shares of the company's stock worth $321,000 after acquiring an additional 4,945 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in TaskUs during the 3rd quarter worth approximately $1,006,000. Finally, Graypoint LLC acquired a new position in TaskUs during the 4th quarter worth approximately $342,000. Institutional investors and hedge funds own 44.64% of the company's stock.

Insider Buying and Selling at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 29.26% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped their price target on TaskUs from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $17.86.

TaskUs Stock Up 3.4 %

Shares of NASDAQ TASK traded up $0.44 during trading hours on Wednesday, hitting $13.52. The company had a trading volume of 71,704 shares, compared to its average volume of 267,420. The stock has a market capitalization of $1.22 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 3.92 and a beta of 2.17. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs, Inc. has a 1-year low of $10.57 and a 1-year high of $19.60. The firm's 50 day moving average is $13.54 and its 200-day moving average is $14.56.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. The business had revenue of $274.24 million for the quarter, compared to analyst estimates of $268.65 million. On average, analysts expect that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

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.