Saba Capital Management L.P. Acquires New Stake in TaskUs, Inc. $TASK

Saba Capital Management L.P. acquired a new stake in shares of TaskUs, Inc. (NASDAQ:TASK) in the first quarter, Holdings Channel reports. The firm acquired 2,088,765 shares of the company’s stock, valued at approximately $14,016,000.

Several other hedge funds have also added to or reduced their stakes in TASK. Geode Capital Management LLC grew its stake in shares of TaskUs by 0.3% in the second quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock worth $3,444,000 after acquiring an additional 647 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of TaskUs by 1.3% during 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. FNY Investment Advisers LLC raised its position in shares of TaskUs by 40.0% in the 4th quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of TaskUs by 7.8% in the 2nd quarter. Lazard Asset Management LLC now owns 18,522 shares of the company’s stock worth $308,000 after purchasing an additional 1,342 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of TaskUs by 4.9% in the 2nd 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. 44.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on TASK shares. Wall Street Zen downgraded shares of TaskUs from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. The Goldman Sachs Group decreased their target price on shares of TaskUs from $10.00 to $7.00 and set a “sell” rating for the company in a report on Thursday, May 7th. Wedbush dropped their target price on shares of TaskUs from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Morgan Stanley set a $6.00 price target on shares of TaskUs in a report on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of TaskUs in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.20.

TaskUs Trading Up 5.1%

Shares of NASDAQ:TASK opened at $5.80 on Tuesday. The company has a market cap of $531.16 million, a P/E ratio of 5.09 and a beta of 1.89. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.75 and a quick ratio of 2.75. TaskUs, Inc. has a 1 year low of $4.47 and a 1 year high of $18.39. The stock’s fifty day moving average price is $5.55 and its 200-day moving average price is $7.87.

TaskUs (NASDAQ:TASK) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. TaskUs had a return on equity of 24.93% and a net margin of 8.70%.The company had revenue of $306.27 million during the quarter, compared to the consensus estimate of $296.68 million. Sell-side analysts expect that TaskUs, Inc. will post 1.1 earnings per share for the current year.

TaskUs 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.