Hsbc Holdings PLC Trims Position in TaskUs, Inc. (NASDAQ:TASK)

Hsbc Holdings PLC decreased its holdings in shares of TaskUs, Inc. (NASDAQ:TASK) by 17.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,551 shares of the company’s stock after selling 4,241 shares during the period. Hsbc Holdings PLC’s holdings in TaskUs were worth $348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royce & Associates LP lifted its stake in TaskUs by 10.9% during the fourth quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock worth $12,581,000 after purchasing an additional 73,100 shares during the last quarter. Renaissance Technologies LLC boosted its position in TaskUs by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company’s stock valued at $8,430,000 after buying an additional 32,500 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of TaskUs by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company’s stock worth $7,979,000 after purchasing an additional 23,713 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of TaskUs by 217.0% during the fourth quarter. SG Americas Securities LLC now owns 350,719 shares of the company’s stock valued at $5,941,000 after buying an additional 240,093 shares during the period. Finally, JPMorgan Chase & Co. increased its position in TaskUs by 32.3% during the 4th quarter. JPMorgan Chase & Co. now owns 103,045 shares of the company’s stock valued at $1,746,000 after purchasing an additional 25,173 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their price target on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Thursday, February 27th. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.86.

Insider Transactions at TaskUs

In related news, insider Jarrod Johnson sold 21,437 shares of TaskUs stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 30.63% of the company’s stock.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $14.38 on Friday. TaskUs, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $19.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The business has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $14.69. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The business had revenue of $274.24 million during the quarter, compared to the consensus estimate of $268.65 million. On average, analysts expect that TaskUs, Inc. will post 0.9 earnings per share for the current year.

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.