Millennium Management LLC Decreases Stock Position in TaskUs, Inc. (NASDAQ:TASK)

Millennium Management LLC lowered its stake in shares of TaskUs, Inc. (NASDAQ:TASK) by 32.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,468 shares of the company’s stock after selling 115,234 shares during the quarter. Millennium Management LLC owned about 0.28% of TaskUs worth $3,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TASK. Dalton Investments Inc. raised its holdings in TaskUs by 2.5% during the 2nd quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock worth $8,471,000 after buying an additional 15,300 shares during the period. Hsbc Holdings PLC raised its stake in shares of TaskUs by 19.7% in the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock valued at $225,000 after purchasing an additional 2,779 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of TaskUs by 12.8% during the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock worth $5,863,000 after purchasing an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in TaskUs by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after buying an additional 51,935 shares during the period. Finally, American Century Companies Inc. raised its position in TaskUs by 11.4% in the 2nd quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after buying an additional 2,863 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Trading Up 0.4 %

TASK opened at $12.23 on Tuesday. TaskUs, Inc. has a twelve month low of $8.24 and a twelve month high of $17.97. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $13.06 and a 200-day moving average of $13.42. The stock has a market cap of $1.08 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 3.17 and a beta of 2.29.

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. The company had revenue of $237.93 million during the quarter, compared to analysts’ expectations of $231.15 million. TaskUs had a net margin of 5.44% and a return on equity of 16.93%. On average, sell-side analysts predict that TaskUs, Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on TASK. Citigroup lifted their target price on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Robert W. Baird increased their price objective on TaskUs from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. cut their price target on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Bank of America raised TaskUs from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, July 22nd. Finally, Royal Bank of Canada upped their price target on TaskUs from $17.00 to $18.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.38.

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.