Hsbc Holdings PLC Acquires 2,779 Shares of TaskUs, Inc. (NASDAQ:TASK)

Hsbc Holdings PLC raised its holdings in TaskUs, Inc. (NASDAQ:TASK) by 19.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,885 shares of the company’s stock after acquiring an additional 2,779 shares during the quarter. Hsbc Holdings PLC’s holdings in TaskUs were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after purchasing an additional 1,988 shares during the last quarter. nVerses Capital LLC bought a new position in TaskUs in the 2nd quarter worth about $28,000. American Century Companies Inc. increased its position in shares of TaskUs by 11.4% during the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock worth $372,000 after acquiring an additional 2,863 shares during the period. Quarry LP raised its stake in shares of TaskUs by 326.6% during the fourth quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after acquiring an additional 3,308 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of TaskUs by 53.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after purchasing an additional 37,505 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Royal Bank of Canada increased their target price on shares of TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. The Goldman Sachs Group started coverage on shares of TaskUs in a research report on Monday, June 24th. They set a “sell” rating and a $12.00 target price on the stock. Robert W. Baird upped their price target on shares of TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Finally, Bank of America upgraded shares of TaskUs from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $18.00 in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.38.

TaskUs Price Performance

NASDAQ TASK opened at $12.25 on Friday. TaskUs, Inc. has a 12-month low of $7.95 and a 12-month high of $17.97. The firm’s fifty day simple moving average is $13.65 and its two-hundred day simple moving average is $13.39. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.08 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.27 and a beta of 2.29.

TaskUs (NASDAQ:TASK) last announced its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. The company had revenue of $237.93 million for the quarter, compared to analyst estimates of $231.15 million. Analysts forecast that TaskUs, Inc. will post 0.84 EPS for the current fiscal year.

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.