TaskUs (NASDAQ:TASK) Shares Up 4.5% – Still a Buy?

TaskUs, Inc. (NASDAQ:TASK) shares were up 4.5% during trading on Wednesday . The company traded as high as $15.96 and last traded at $15.68. Approximately 89,217 shares traded hands during trading, a decline of 67% from the average daily volume of 271,784 shares. The stock had previously closed at $15.01.

Analyst Ratings Changes

Several brokerages recently weighed in on TASK. Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Friday, December 13th. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, December 9th. Finally, Robert W. Baird increased their price target on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

TaskUs Stock Up 5.1 %

The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 4.67 and a beta of 2.23. The stock has a fifty day moving average of $15.54 and a two-hundred day moving average of $14.31.

Insider Activity at TaskUs

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Steven Amaya sold 2,600 shares of the firm’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,338 shares of company stock worth $2,548,902. Company insiders own 29.26% of the company’s stock.

Institutional Investors Weigh In On TaskUs

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TaskUs by 55.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after acquiring an additional 1,988 shares in the last quarter. LSV Asset Management acquired a new stake in TaskUs during the second quarter worth about $990,000. American Century Companies Inc. lifted its holdings in TaskUs by 11.4% in the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock worth $372,000 after acquiring an additional 2,863 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TaskUs by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after acquiring an additional 51,935 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of TaskUs by 12.8% during the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock valued at $5,863,000 after purchasing an additional 50,000 shares during the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.