Short Interest in TaskUs, Inc. (NASDAQ:TASK) Decreases By 17.5%

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,370,000 shares, a drop of 17.5% from the March 15th total of 1,660,000 shares. Approximately 7.8% of the shares of the company are short sold. Based on an average trading volume of 381,200 shares, the days-to-cover ratio is currently 3.6 days.

Analysts Set New Price Targets

Separately, Royal Bank of Canada increased their price target on shares of 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.86.

Insider Activity at TaskUs

In other news, insider Jarrod Johnson sold 15,460 shares of the firm's stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. 29.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On TaskUs

Large investors have recently bought and sold shares of the company. 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 acquiring an additional 699 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in TaskUs during the first quarter worth about $63,000. BNP Paribas Financial Markets acquired a new position in TaskUs in the 4th quarter valued at about $80,000. KLP Kapitalforvaltning AS acquired a new position in TaskUs in the 4th quarter valued at about $81,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of TaskUs in the fourth quarter valued at approximately $83,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Price Performance

Shares of TASK stock traded up $0.36 during trading hours on Thursday, hitting $13.49. 137,764 shares of the company's stock were exchanged, compared to its average volume of 268,145. TaskUs has a fifty-two week low of $10.57 and a fifty-two week high of $19.60. The firm has a market cap of $1.21 billion, a P/E ratio of 22.86, a P/E/G ratio of 3.92 and a beta of 2.17. 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 firm has a 50 day moving average of $13.49 and a two-hundred day moving average of $14.55.

TaskUs (NASDAQ:TASK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). The company had revenue of $274.24 million for the quarter, compared to analyst estimates of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. Sell-side analysts forecast that TaskUs will post 0.9 EPS 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.