TaskUs (NASDAQ:TASK) Trading Down 9.6% – Time to Sell?

TaskUs, Inc. (NASDAQ:TASK)’s share price traded down 9.6% on Monday . The company traded as low as $11.59 and last traded at $11.68. 148,007 shares were traded during mid-day trading, a decline of 43% from the average session volume of 260,515 shares. The stock had previously closed at $12.92.

Analyst Ratings Changes

TASK has been the topic of several analyst reports. Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a report on Friday, December 13th. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Monday, December 9th. Finally, Royal Bank of Canada increased 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, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.86.

TaskUs Stock Down 10.4 %

The stock has a 50-day moving average of $14.44 and a 200 day moving average of $14.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. The company has a market cap of $1.04 billion, a P/E ratio of 19.61, a PEG ratio of 3.92 and a beta of 2.17.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The firm had revenue of $274.24 million for the quarter, compared to analyst estimates of $268.65 million. Research analysts anticipate that TaskUs, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total value of $204,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TaskUs

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position in TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock valued at $28,000 after purchasing an additional 699 shares during the last quarter. Lazard Asset Management LLC boosted its position in TaskUs by 9.6% during the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company’s stock worth $167,000 after buying an additional 873 shares during the period. Jane Street Group LLC grew its holdings in 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 acquiring an additional 1,959 shares during the last quarter. PDT Partners LLC increased its position in TaskUs by 6.8% in the 4th quarter. PDT Partners LLC now owns 45,189 shares of the company’s stock valued at $766,000 after acquiring an additional 2,893 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of TaskUs by 11.6% during the fourth quarter. American Century Companies Inc. now owns 36,888 shares of the company’s stock valued at $625,000 after acquiring an additional 3,841 shares during the last quarter. 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.