TaskUs (NASDAQ:TASK) Shares Up 4.5% – Should You Buy?

TaskUs, Inc. (NASDAQ:TASK)’s share price rose 4.5% during trading on Wednesday . The company 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 Analysts Forecast Growth

TASK has been the subject of a number of research analyst reports. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.00.

TaskUs Stock Performance

The firm has a 50-day moving average price of $15.54 and a 200 day moving average price of $14.31. The firm has a market capitalization of $1.41 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 4.67 and a beta of 2.23. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

Insiders Place Their Bets

In related news, COO Stephan Daoust sold 62,159 shares of TaskUs stock in a transaction on Friday, December 13th. The shares were sold at an average price of $18.23, for a total value of $1,133,158.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of TaskUs stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.11, for a total transaction of $1,368,735.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,338 shares of company stock valued at $2,548,902. 29.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in 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 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 during the last quarter. CWM LLC lifted its holdings in shares of 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. Quantbot Technologies LP grew its position in shares of TaskUs by 186.7% in the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after purchasing an additional 6,140 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of TaskUs during the 3rd quarter worth approximately $139,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.