Spire Wealth Management Makes New Investment in TaskUs, Inc. $TASK

Spire Wealth Management bought a new stake in TaskUs, Inc. (NASDAQ:TASK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,754 shares of the company’s stock, valued at approximately $942,000. Spire Wealth Management owned about 0.06% of TaskUs at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new position in TaskUs in the second quarter worth $67,000. Harbor Capital Advisors Inc. raised its holdings in shares of TaskUs by 21.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company’s stock worth $89,000 after purchasing an additional 896 shares during the period. Voya Investment Management LLC purchased a new position in TaskUs in the first quarter valued at approximately $178,000. OMERS ADMINISTRATION Corp bought a new position in TaskUs during the second quarter valued at $211,000. Finally, IHT Wealth Management LLC purchased a new stake in TaskUs in the second quarter worth $274,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $11.87 on Friday. The business has a fifty day moving average price of $11.78 and a 200-day moving average price of $14.91. The company has a market capitalization of $1.07 billion, a PE ratio of 13.34 and a beta of 2.12. TaskUs, Inc. has a 1-year low of $10.68 and a 1-year high of $18.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.89 and a quick ratio of 2.89.

TaskUs (NASDAQ:TASK) last released its quarterly earnings data on Friday, November 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. TaskUs had a return on equity of 21.27% and a net margin of 7.11%.The company had revenue of $298.71 million for the quarter, compared to analysts’ expectations of $286.71 million. As a group, equities analysts expect that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on TASK shares. The Goldman Sachs Group raised TaskUs to a “strong sell” rating in a research report on Monday, November 10th. Royal Bank Of Canada increased their target price on TaskUs from $16.50 to $17.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Baird R W raised TaskUs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Robert W. Baird raised their price target on shares of TaskUs from $16.50 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of TaskUs in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TaskUs currently has an average rating of “Hold” and a consensus target price of $17.17.

TaskUs Company Profile

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.