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

Bank of New York Mellon Corp cut its stake in shares of TaskUs, Inc. (NASDAQ:TASK) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 36,756 shares of the company’s stock after selling 1,540 shares during the quarter. Bank of New York Mellon Corp’s holdings in TaskUs were worth $489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC raised its position in shares of TaskUs by 26.5% during the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after purchasing an additional 155,751 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock worth $1,409,000 after acquiring an additional 71,621 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of TaskUs by 53.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock worth $1,258,000 after acquiring an additional 37,505 shares in the last quarter. Quarry LP boosted its stake in shares of TaskUs by 326.6% during the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock worth $56,000 after acquiring an additional 3,308 shares in the last quarter. Finally, Olympiad Research LP bought a new stake in shares of TaskUs during the 4th quarter worth about $185,000. 44.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TASK has been the subject of several recent analyst reports. Robert W. Baird upped their price target on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. The Goldman Sachs Group assumed coverage on TaskUs in a research note on Monday, June 24th. They set a “sell” rating and a $12.00 target price for the company. Citigroup increased their target price on TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 12th. 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 note on Friday, September 6th. Finally, Royal Bank of Canada increased their target price on TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.38.

TaskUs Price Performance

Shares of TASK stock opened at $12.59 on Wednesday. The stock has a 50 day moving average of $14.29 and a two-hundred day moving average of $13.40. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.54. TaskUs, Inc. has a 12 month low of $7.95 and a 12 month high of $17.97. The company has a market capitalization of $1.11 billion, a P/E ratio of 24.69, a P/E/G ratio of 3.49 and a beta of 2.29.

TaskUs (NASDAQ:TASK) last issued its earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. TaskUs had a net margin of 5.44% and a return on equity of 16.93%. The company had revenue of $237.93 million for the quarter, compared to the consensus estimate of $231.15 million. As a group, equities analysts expect that TaskUs, Inc. will post 0.84 EPS for the current 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.