Hsbc Holdings PLC Sells 3,309 Shares of TaskUs, Inc. $TASK

Hsbc Holdings PLC cut its position in shares of TaskUs, Inc. (NASDAQ:TASK) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,242 shares of the company’s stock after selling 3,309 shares during the quarter. Hsbc Holdings PLC’s holdings in TaskUs were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TASK. Raymond James Financial Inc. acquired a new stake in TaskUs during the fourth quarter worth about $408,000. Dimensional Fund Advisors LP grew its position in TaskUs by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company’s stock worth $7,979,000 after buying an additional 23,713 shares in the last quarter. Ameriprise Financial Inc. grew its position in TaskUs by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company’s stock worth $16,223,000 after buying an additional 69,704 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in TaskUs during the fourth quarter worth about $80,000. Finally, Bank of America Corp DE grew its position in TaskUs by 95.8% during the fourth quarter. Bank of America Corp DE now owns 68,783 shares of the company’s stock worth $1,165,000 after buying an additional 33,661 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Stock Performance

NASDAQ:TASK opened at $18.18 on Friday. TaskUs, Inc. has a 1 year low of $10.57 and a 1 year high of $19.60. The firm has a 50 day moving average of $17.17 and a 200-day moving average of $15.57. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.63 billion, a P/E ratio of 26.35 and a beta of 2.16.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TASK shares. Royal Bank Of Canada decreased their target price on TaskUs from $20.00 to $16.50 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. William Blair downgraded TaskUs from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Robert W. Baird downgraded TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 price objective on the stock. in a report on Monday, May 12th. Baird R W downgraded TaskUs from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Finally, Zacks Research raised TaskUs from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

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.