Verition Fund Management LLC Sells 3,389 Shares of TaskUs, Inc. (NASDAQ:TASK)

Verition Fund Management LLC lessened its holdings in TaskUs, Inc. (NASDAQ:TASK) by 24.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,359 shares of the company’s stock after selling 3,389 shares during the quarter. Verition Fund Management LLC’s holdings in TaskUs were worth $134,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in shares of TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock valued at $8,651,000 after acquiring an additional 54,770 shares during the last quarter. Seldon Capital LP purchased a new position in TaskUs in the third quarter worth $5,393,000. LSV Asset Management bought a new position in TaskUs in the second quarter valued at $990,000. Dimensional Fund Advisors LP raised its position in TaskUs by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after purchasing an additional 51,935 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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. Institutional investors own 44.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, December 9th. Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $21.00 in a report on Friday. Robert W. Baird boosted their price target on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.00.

TaskUs Price Performance

TASK stock opened at $17.63 on Tuesday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $14.10 and its two-hundred day moving average price is $13.99. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 4.67 and a beta of 2.31. TaskUs, Inc. has a 12-month low of $10.56 and a 12-month high of $19.60.

TaskUs Company 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.