TaskUs (NASDAQ:TASK) Shares Up 4.5% - Should You Buy?

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was up 4.5% on Wednesday . The stock traded as high as $15.96 and last traded at $15.68. Approximately 89,217 shares were traded during trading, a decline of 67% from the average daily volume of 271,784 shares. The stock had previously closed at $15.01.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America upgraded TaskUs from a "neutral" rating to a "buy" rating and set a $18.00 price objective for the company in a report on Monday, December 9th. Morgan Stanley raised shares of TaskUs from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Finally, Robert W. Baird raised their target price on TaskUs from $16.00 to $20.00 and gave the company an "outperform" rating in a research note 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 company. According to MarketBeat, the stock 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 stock's 50-day moving average price is $15.54 and its 200 day moving average price is $14.31. The company has a market cap of $1.39 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 4.67 and a beta of 2.23.

Insider Buying and Selling at TaskUs

In other TaskUs news, CAO Steven Amaya sold 2,600 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.08, for a total value of $47,008.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Stephan Daoust sold 62,159 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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. Insiders sold a total of 140,338 shares of company stock valued at $2,548,902 in the last quarter. Corporate insiders own 29.26% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TASK. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TaskUs by 55.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company's stock worth $74,000 after buying an additional 1,988 shares during the last quarter. LSV Asset Management bought a new position in TaskUs in the second quarter valued at about $990,000. American Century Companies Inc. increased its position in TaskUs by 11.4% in the 2nd quarter. American Century Companies Inc. now owns 27,976 shares of the company's stock valued at $372,000 after acquiring an additional 2,863 shares during the period. Dimensional Fund Advisors LP raised its position in TaskUs by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company's stock worth $5,224,000 after purchasing an additional 51,935 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of TaskUs by 12.8% in the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company's stock worth $5,863,000 after acquiring an additional 50,000 shares during the period. Institutional investors 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.