Lazard Asset Management LLC Cuts Position in TaskUs, Inc. $TASK

Lazard Asset Management LLC lowered its stake in shares of TaskUs, Inc. (NASDAQ:TASK) by 92.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,967 shares of the company’s stock after selling 136,633 shares during the quarter. Lazard Asset Management LLC’s holdings in TaskUs were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in shares of TaskUs by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock worth $3,444,000 after buying an additional 647 shares during the last quarter. First Trust Advisors LP boosted its stake in TaskUs by 1.3% in the second quarter. First Trust Advisors LP now owns 54,531 shares of the company’s stock valued at $914,000 after acquiring an additional 716 shares in the last quarter. American Century Companies Inc. grew its holdings in TaskUs by 4.9% in the second quarter. American Century Companies Inc. now owns 43,404 shares of the company’s stock worth $727,000 after purchasing an additional 2,045 shares during the last quarter. Allworth Financial LP increased its position in shares of TaskUs by 9,224.0% during the fourth quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock worth $27,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of TaskUs by 7.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 49,327 shares of the company’s stock valued at $880,000 after purchasing an additional 3,424 shares during the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

TaskUs Stock Down 6.6%

Shares of TASK stock opened at $7.30 on Friday. TaskUs, Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $18.39. The firm has a market capitalization of $668.53 million, a PE ratio of 6.29 and a beta of 1.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.75 and a current ratio of 2.75. The stock’s 50-day simple moving average is $5.63 and its 200-day simple moving average is $7.58.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. TaskUs had a return on equity of 24.48% and a net margin of 8.75%.The firm had revenue of $308.86 million during the quarter, compared to the consensus estimate of $297.58 million. Equities analysts expect that TaskUs, Inc. will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TASK. Robert W. Baird set a $12.00 target price on TaskUs in a research note on Thursday. Wall Street Zen lowered TaskUs from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TaskUs in a research report on Tuesday, July 14th. The Goldman Sachs Group lowered their target price on shares of TaskUs from $10.00 to $7.00 and set a “sell” rating for the company in a research note on Thursday, May 7th. Finally, Wedbush cut their price target on shares of TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.40.

About TaskUs

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.