Lord Abbett & CO. LLC Sells 35,854 Shares of TaskUs, Inc. (NASDAQ:TASK)

Lord Abbett & CO. LLC cut its holdings in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 7.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 423,295 shares of the company's stock after selling 35,854 shares during the period. Lord Abbett & CO. LLC owned about 0.47% of TaskUs worth $5,469,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. nVerses Capital LLC bought a new stake in TaskUs during the second quarter worth about $28,000. US Bancorp DE increased its holdings in TaskUs by 101.2% during the third quarter. US Bancorp DE now owns 5,001 shares of the company's stock worth $65,000 after buying an additional 2,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TaskUs by 55.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company's stock worth $74,000 after acquiring an additional 1,988 shares in the last quarter. CWM LLC lifted 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 acquiring an additional 7,516 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of TaskUs by 186.7% in the 3rd quarter. Quantbot Technologies LP now owns 9,428 shares of the company's stock valued at $122,000 after acquiring an additional 6,140 shares during the period. Institutional investors own 44.64% of the company's stock.

Analyst Upgrades and Downgrades

TASK has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on TaskUs from $16.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on TaskUs from $17.00 to $15.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Bank of America upgraded TaskUs from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a research note on Monday, December 9th. Finally, Morgan Stanley raised shares of TaskUs from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.00.

TaskUs Price Performance

Shares of NASDAQ TASK traded down $0.37 during midday trading on Tuesday, reaching $17.26. The company's stock had a trading volume of 248,134 shares, compared to its average volume of 225,085. 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 company has a market cap of $1.54 billion, a P/E ratio of 29.25, a P/E/G ratio of 4.67 and a beta of 2.31. The business's 50 day moving average price is $14.21 and its two-hundred day moving average price is $14.01. TaskUs, Inc. has a fifty-two week low of $10.56 and a fifty-two week high of $19.60.

About TaskUs

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.