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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley upgraded 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 raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, December 9th. Finally, Robert W. Baird boosted their price target on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, TaskUs currently has a consensus rating of “Hold” and an average price target of $17.00.

TaskUs Stock Performance

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 company has a 50-day moving average of $15.66 and a 200-day moving average of $14.32. The company has a market cap of $1.36 billion, a PE ratio of 25.80, a PEG ratio of 4.67 and a beta of 2.23.

Insider Transactions at TaskUs

In other news, CAO Steven Amaya sold 75,579 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $18.11, for a total value of $1,368,735.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stephan Daoust sold 62,159 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 90 days, insiders 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

Institutional investors have recently bought and sold shares of the business. 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 valued at $281,000 after buying an additional 1,959 shares in the last quarter. US Bancorp DE grew its holdings in shares of 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 in the last quarter. Hsbc Holdings PLC raised its stake in TaskUs by 19.7% during the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock valued at $225,000 after purchasing an additional 2,779 shares in the last quarter. American Century Companies Inc. lifted its position in TaskUs by 11.4% during the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after purchasing an additional 2,863 shares during the last quarter. Finally, Centiva Capital LP grew its stake in shares of TaskUs by 27.6% in the 3rd quarter. Centiva Capital LP now owns 19,512 shares of the company’s stock worth $252,000 after buying an additional 4,218 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.