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

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,890,000 shares, an increase 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. Approximately 10.6% of the company's shares are sold short.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley raised TaskUs from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $18.00 to $21.00 in a research report on Friday, December 13th. Royal Bank of Canada lifted their price target on shares of TaskUs from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 27th. Finally, Bank of America raised TaskUs from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, TaskUs has an average rating of "Hold" and a consensus price target of $17.86.

Insider Activity

In other news, insider Jarrod Johnson sold 21,437 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 29.26% of the company's stock.

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Institutional Trading of TaskUs

Several institutional investors have recently made changes to their positions in TASK. Jacobs Levy Equity Management Inc. increased its position in shares of TaskUs by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company's stock valued at $3,407,000 after buying an additional 84,988 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of TaskUs by 8.9% during the third quarter. Royce & Associates LP now owns 669,579 shares of the company's stock worth $8,651,000 after buying an additional 54,770 shares in the last quarter. Seldon Capital LP acquired a new stake in TaskUs during the third quarter worth approximately $5,393,000. JPMorgan Chase & Co. bought a new position in TaskUs in the 3rd quarter valued at about $1,006,000. Finally, Janney Montgomery Scott LLC acquired a new stake in TaskUs in the fourth quarter valued at about $613,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Stock Performance

TaskUs stock traded down $0.16 during midday trading on Friday, reaching $13.38. 256,765 shares of the stock traded hands, compared to its average volume of 254,621. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 22.68, 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. TaskUs has a fifty-two week low of $10.56 and a fifty-two week high of $19.60. The firm has a fifty day moving average price of $15.13 and a two-hundred day moving average price of $14.50.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. The firm had revenue of $274.24 million during the quarter, compared to the consensus estimate of $268.65 million. On average, equities research analysts forecast 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.