Hudson Bay Capital Management LP Purchases New Stake in TaskUs, Inc. $TASK

Hudson Bay Capital Management LP acquired a new stake in shares of TaskUs, Inc. (NASDAQ:TASK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 996,979 shares of the company’s stock, valued at approximately $17,796,000. Hudson Bay Capital Management LP owned about 1.10% of TaskUs at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of TaskUs by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock valued at $3,444,000 after purchasing an additional 647 shares in the last quarter. First Trust Advisors LP grew its stake in TaskUs by 1.3% in the second quarter. First Trust Advisors LP now owns 54,531 shares of the company’s stock worth $914,000 after purchasing an additional 716 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in TaskUs by 21.9% in the third quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company’s stock worth $89,000 after purchasing an additional 896 shares in the last quarter. Lazard Asset Management LLC increased its holdings in TaskUs by 7.8% in the second quarter. Lazard Asset Management LLC now owns 18,522 shares of the company’s stock valued at $308,000 after buying an additional 1,342 shares during the last quarter. Finally, Swiss National Bank raised its stake in TaskUs by 6.1% during the second quarter. Swiss National Bank now owns 34,700 shares of the company’s stock valued at $582,000 after buying an additional 2,000 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on TASK shares. Wall Street Zen downgraded TaskUs from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Royal Bank Of Canada dropped their price target on TaskUs from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 26th. Wedbush started coverage on TaskUs in a research note on Tuesday, February 3rd. They set an “outperform” rating and a $15.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of TaskUs from $16.50 to $12.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Finally, Piper Sandler lowered shares of TaskUs to a “neutral” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.50.

TaskUs Stock Performance

Shares of TASK stock opened at $11.00 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $10.80 and a two-hundred day moving average of $12.78. TaskUs, Inc. has a 52 week low of $9.55 and a 52 week high of $18.39. The company has a market cap of $996.16 million, a P/E ratio of 9.91 and a beta of 2.11.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $312.96 million for the quarter, compared to analysts’ expectations of $303.68 million. TaskUs had a return on equity of 22.52% and a net margin of 8.64%. As a group, analysts anticipate that TaskUs, Inc. will post 0.9 EPS for the current year.

TaskUs Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a $3.65 dividend.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.