Quantbot Technologies LP Sells 2,066 Shares of TaskUs, Inc. (NASDAQ:TASK)

Quantbot Technologies LP trimmed its stake in shares of TaskUs, Inc. (NASDAQ:TASK) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,362 shares of the company’s stock after selling 2,066 shares during the quarter. Quantbot Technologies LP’s holdings in TaskUs were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TASK. Victory Capital Management Inc. acquired a new position in TaskUs in the third quarter valued at $223,000. Dynamic Technology Lab Private Ltd acquired a new position in TaskUs in the third quarter valued at approximately $174,000. Paloma Partners Management Co bought a new position in shares of TaskUs during the 3rd quarter worth approximately $139,000. Centiva Capital LP grew its position in shares of TaskUs by 27.6% during the 3rd quarter. Centiva Capital LP now owns 19,512 shares of the company’s stock worth $252,000 after buying an additional 4,218 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of TaskUs by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after acquiring an additional 84,988 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total value of $291,543.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 29.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TASK shares. Royal Bank of Canada upped their price objective on shares of TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday, February 27th. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a report on Friday, December 13th. Finally, Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.86.

TaskUs Trading Down 0.4 %

NASDAQ:TASK opened at $13.70 on Monday. TaskUs, Inc. has a 52 week low of $10.56 and a 52 week high of $19.60. The firm has a 50-day moving average price of $14.88 and a two-hundred day moving average price of $14.55. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 3.92 and a beta of 2.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02.

TaskUs (NASDAQ:TASK) last announced its 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). The business had revenue of $274.24 million for the quarter, compared to analysts’ expectations of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. On average, equities analysts expect that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

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.