TaskUs (NASDAQ:TASK) Trading 5.9% Higher – What’s Next?

TaskUs, Inc. (NASDAQ:TASK)’s stock price traded up 5.9% during mid-day trading on Tuesday . The company traded as high as $15.42 and last traded at $15.49. 269,888 shares were traded during mid-day trading, a decline of 14% from the average session volume of 313,884 shares. The stock had previously closed at $14.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TASK. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, December 9th. Robert W. Baird raised their price target 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. Finally, Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $21.00 in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

TaskUs Stock Performance

The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $16.17 and its 200 day moving average is $14.51. The company has a market cap of $1.38 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.92 and a beta of 2.21.

Insider Transactions at TaskUs

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $18.23, for a total transaction of $1,133,158.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $18.11, for a total value of $1,368,735.69. The disclosure for this sale can be found here. Insiders sold 140,338 shares of company stock valued at $2,548,902 over the last 90 days. Corporate insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Several hedge funds and other institutional investors have recently modified their holdings of TASK. Blue Trust Inc. grew its stake in TaskUs by 71.5% during the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock valued at $28,000 after acquiring an additional 699 shares in the last quarter. Lazard Asset Management LLC lifted its stake in TaskUs by 9.6% in the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company’s stock worth $167,000 after purchasing an additional 873 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of TaskUs by 9.9% during the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock worth $281,000 after purchasing an additional 1,959 shares during the last quarter. US Bancorp DE grew its position in shares of TaskUs by 101.2% in 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 in the last quarter. Finally, PDT Partners LLC increased its holdings in shares of TaskUs by 6.8% in the fourth quarter. PDT Partners LLC now owns 45,189 shares of the company’s stock valued at $766,000 after purchasing an additional 2,893 shares during the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

TaskUs Company 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.