TaskUs, Inc. (NASDAQ:TASK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of TaskUs, Inc. (NASDAQ:TASK) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,771 shares of the company’s stock after selling 3,710 shares during the period. Bank of New York Mellon Corp’s holdings in TaskUs were worth $538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of TaskUs by 217.0% in the 4th quarter. SG Americas Securities LLC now owns 350,719 shares of the company’s stock worth $5,941,000 after acquiring an additional 240,093 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in TaskUs by 47.5% during 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. JPMorgan Chase & Co. acquired a new position in TaskUs during the 3rd quarter valued at about $1,006,000. Janney Montgomery Scott LLC bought a new position in TaskUs during the 4th quarter valued at $613,000. Finally, XTX Topco Ltd bought a new stake in TaskUs in the third quarter worth about $269,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Stock Performance

TASK opened at $13.76 on Friday. The stock’s 50 day simple moving average is $14.94 and its 200-day simple moving average is $14.51. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.24 billion, a PE ratio of 23.32, a P/E/G ratio of 3.92 and a beta of 2.24. TaskUs, Inc. has a 1 year low of $10.56 and a 1 year high of $19.60.

TaskUs (NASDAQ:TASK) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The business had revenue of $274.24 million for the quarter, compared to the consensus estimate of $268.65 million. Sell-side analysts forecast that TaskUs, Inc. will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other TaskUs news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $13.25, for a total transaction of $204,845.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 29.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.