TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,890,000 shares, a growth of 18.9% from the February 13th total of 1,590,000 shares. Based on an average daily trading volume, of 348,000 shares, the days-to-cover ratio is presently 5.4 days. Currently, 10.6% of the company’s stock are short sold.

Insider Buying and Selling at TaskUs

In related news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total transaction of $204,845.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 29.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TASK. Blue Trust Inc. increased its stake in shares of TaskUs by 71.5% in the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after purchasing an additional 699 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in TaskUs in the fourth quarter worth about $80,000. KLP Kapitalforvaltning AS bought a new position in shares of TaskUs in the fourth quarter worth about $81,000. Point72 Asset Management L.P. purchased a new position in shares of TaskUs during the 4th quarter valued at about $83,000. Finally, US Bancorp DE grew its stake in shares of TaskUs by 101.2% during the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after acquiring an additional 2,516 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TASK shares. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Monday, December 9th. Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $21.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada lifted their price objective on TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, TaskUs currently has a consensus rating of “Hold” and an average target price of $17.25.

TaskUs Stock Performance

TASK stock traded up $0.22 during trading on Tuesday, reaching $13.68. The stock had a trading volume of 25,974 shares, compared to its average volume of 254,512. The firm has a market cap of $1.23 billion, a PE ratio of 23.14, a PEG ratio of 3.92 and a beta of 2.24. 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 stock’s 50 day moving average is $15.27 and its two-hundred day moving average is $14.50. TaskUs has a 52 week low of $10.56 and a 52 week high of $19.60.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). The business had revenue of $274.24 million during the quarter, compared to the consensus estimate of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. As a group, equities analysts anticipate that TaskUs will post 0.9 earnings per share for the current year.

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.