Trexquant Investment LP Buys New Shares in TaskUs, Inc. (NASDAQ:TASK)

Trexquant Investment LP purchased a new position in TaskUs, Inc. (NASDAQ:TASK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,753 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in shares of TaskUs by 217.0% in the fourth quarter. SG Americas Securities LLC now owns 350,719 shares of the company’s stock worth $5,941,000 after acquiring an additional 240,093 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in TaskUs during the third quarter worth approximately $1,006,000. Royce & Associates LP boosted its holdings in shares of TaskUs by 10.9% in the 4th quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock valued at $12,581,000 after purchasing an additional 73,100 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of TaskUs during the 4th quarter valued at $613,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of TaskUs during the 4th quarter worth $408,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Insider Activity at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 29.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, TaskUs presently has a consensus rating of “Hold” and an average price target of $17.86.

TaskUs Stock Up 1.1 %

Shares of TaskUs stock opened at $12.47 on Monday. The company has a fifty day moving average price of $13.95 and a 200 day moving average price of $14.55. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs, Inc. has a twelve month low of $10.56 and a twelve month high of $19.60. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 3.92 and a beta of 2.17.

TaskUs (NASDAQ:TASK) last announced its earnings results on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The company had revenue of $274.24 million for the quarter, compared to analysts’ expectations of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. Equities research analysts forecast that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

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.