TaskUs (NASDAQ:TASK) Shares Up 4.5% – Here’s Why

by · The Cerbat Gem

TaskUs, Inc. (NASDAQ:TASK – Get Free Report)’s stock price rose 4.5% during mid-day trading on Wednesday . The stock traded as high as $15.96 and last traded at $15.68. Approximately 89,217 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 271,784 shares. The stock had previously closed at $15.01.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TASK. Robert W. Baird boosted their target price on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company 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 target price for the company from $18.00 to $21.00 in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.00.

Check Out Our Latest Stock Analysis on TaskUs

TaskUs Stock Performance

The firm has a market cap of $1.36 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 4.67 and a beta of 2.23. The business has a 50 day simple moving average of $15.66 and a two-hundred day simple moving average of $14.32. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

Insider Transactions at TaskUs

In other news, CAO Steven Amaya sold 2,600 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.08, for a total value of $47,008.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephan Daoust sold 62,159 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,338 shares of company stock worth $2,548,902. Insiders own 29.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Seldon Capital LP purchased a new position in TaskUs in the third quarter worth $5,393,000. Jacobs Levy Equity Management Inc. grew its stake in TaskUs by 47.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock worth $3,407,000 after buying an additional 84,988 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in TaskUs during the 3rd quarter valued at about $1,006,000. LSV Asset Management purchased a new stake in TaskUs in the second quarter valued at about $990,000. Finally, Royce & Associates LP boosted its holdings in TaskUs by 8.9% in the third quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after acquiring an additional 54,770 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

About TaskUs

(Get Free Report)

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.

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