Cornercap Investment Counsel Inc. Makes New Investment in TaskUs, Inc. (NASDAQ:TASK)

Cornercap Investment Counsel Inc. purchased a new stake in TaskUs, Inc. (NASDAQ:TASK) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 17,793 shares of the company’s stock, valued at approximately $230,000.

A number of other large investors have also recently added to or reduced their stakes in TASK. Victory Capital Management Inc. acquired a new stake in shares of TaskUs in the third quarter valued at approximately $223,000. Olympiad Research LP acquired a new position in shares of TaskUs during the 3rd quarter worth about $143,000. US Bancorp DE boosted its position in TaskUs by 101.2% during the third quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after purchasing an additional 2,516 shares during the last quarter. CWM LLC grew its stake in TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company’s stock valued at $97,000 after purchasing an additional 7,516 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of TaskUs by 94.2% during the 3rd quarter. SG Americas Securities LLC now owns 110,626 shares of the company’s stock worth $1,429,000 after purchasing an additional 53,672 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TASK. Citigroup increased their price target on shares of TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Robert W. Baird increased their price objective on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Finally, Bank of America upgraded TaskUs from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $12.00 to $18.00 in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TaskUs presently has a consensus rating of “Hold” and an average price target of $16.43.

TaskUs Stock Performance

NASDAQ TASK opened at $14.15 on Tuesday. TaskUs, Inc. has a fifty-two week low of $10.56 and a fifty-two week high of $19.60. The firm’s fifty day moving average price is $12.89 and its two-hundred day moving average price is $13.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.23 and a current ratio of 3.02. The stock has a market cap of $1.26 billion, a PE ratio of 23.98, a PEG ratio of 3.62 and a beta of 2.28.

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.