SG Americas Securities LLC Buys 53,672 Shares of TaskUs, Inc. (NASDAQ:TASK)

SG Americas Securities LLC grew its stake in TaskUs, Inc. (NASDAQ:TASK) by 94.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,626 shares of the company’s stock after purchasing an additional 53,672 shares during the period. SG Americas Securities LLC owned about 0.12% of TaskUs worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lord Abbett & CO. LLC boosted its position in TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock valued at $8,670,000 after buying an additional 155,751 shares in the last quarter. Dalton Investments Inc. lifted its stake in shares of TaskUs by 2.5% in the 2nd quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock valued at $8,471,000 after acquiring an additional 15,300 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of TaskUs by 12.8% during the 2nd quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock valued at $5,863,000 after acquiring an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TaskUs by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after acquiring an additional 51,935 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in TaskUs by 145.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock worth $1,409,000 after purchasing an additional 71,621 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird boosted their price target on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. reduced their target price on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. The Goldman Sachs Group initiated coverage on shares of TaskUs in a research note on Monday, June 24th. They set a “sell” rating and a $12.00 price target for the company. Bank of America raised shares of TaskUs from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, July 22nd. Finally, Citigroup raised their target price on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.38.

TaskUs Price Performance

Shares of NASDAQ TASK opened at $11.95 on Wednesday. The company has a market capitalization of $1.06 billion, a PE ratio of 23.43, a P/E/G ratio of 3.34 and a beta of 2.29. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54. TaskUs, Inc. has a twelve month low of $7.95 and a twelve month high of $17.97. The firm has a fifty day simple moving average of $13.46 and a 200 day simple moving average of $13.41.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $231.15 million. On average, sell-side analysts forecast that TaskUs, Inc. will post 0.84 EPS for the current 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.