TaskUs, Inc. (NASDAQ:TASK) Stake Lifted by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lifted its holdings in TaskUs, Inc. (NASDAQ:TASK) by 26.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 744,222 shares of the company’s stock after purchasing an additional 155,751 shares during the quarter. Lord Abbett & CO. LLC owned 0.84% of TaskUs worth $8,670,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of TASK. Quarry LP grew its stake in shares of TaskUs by 326.6% in the fourth quarter. Quarry LP now owns 4,321 shares of the company’s stock worth $56,000 after purchasing an additional 3,308 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in TaskUs during the fourth quarter valued at about $64,000. Olympiad Research LP bought a new position in TaskUs during the fourth quarter valued at about $185,000. Janney Montgomery Scott LLC boosted its stake in TaskUs by 53.2% during the first quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after buying an additional 37,505 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in TaskUs during the fourth quarter valued at about $2,362,000. Institutional investors own 44.64% of the company’s stock.

TaskUs Stock Performance

NASDAQ:TASK remained flat at $16.15 during trading hours on Friday. 96,161 shares of the company’s stock traded hands, compared to its average volume of 206,171. The business’s fifty day simple moving average is $14.19 and its 200 day simple moving average is $12.89. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 6.06 and a beta of 2.32. TaskUs, Inc. has a 52 week low of $7.95 and a 52 week high of $16.50. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.56.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $227.47 million for the quarter, compared to the consensus estimate of $223.50 million. TaskUs had a return on equity of 16.61% and a net margin of 5.23%. Research analysts predict that TaskUs, Inc. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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. Robert W. Baird raised their target price on TaskUs from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Finally, Citigroup raised their target price on TaskUs from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, TaskUs presently has a consensus rating of “Hold” and a consensus price target of $14.13.

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.