TaskUs (NASDAQ:TASK) Shares Down 9.6% - Should You Sell?

TaskUs, Inc. (NASDAQ:TASK - Get Free Report)'s share price fell 9.6% during trading on Monday . The stock traded as low as $11.59 and last traded at $11.68. 148,007 shares traded hands 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.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TASK shares. Morgan Stanley upgraded TaskUs from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Royal Bank of Canada lifted their price objective on shares of TaskUs from $18.00 to $20.00 and gave the company a "sector perform" rating in a report on Thursday, February 27th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.86.

TaskUs Price Performance

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 firm has a fifty day moving average of $13.95 and a two-hundred day moving average of $14.54. The stock has a market capitalization of $1.12 billion, a P/E ratio of 21.14, a P/E/G ratio of 3.92 and a beta of 2.17.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). The business had revenue of $274.24 million during the quarter, compared to analysts' expectations of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. On average, analysts predict that TaskUs, Inc. will post 0.9 EPS for the current year.

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Insider Buying and Selling at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total transaction of $204,845.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 29.26% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its stake 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 acquiring an additional 699 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of TaskUs by 9.6% during the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company's stock valued at $167,000 after purchasing an additional 873 shares during the last quarter. Jane Street Group LLC boosted its position in shares of TaskUs by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company's stock worth $281,000 after purchasing an additional 1,959 shares in the last quarter. PDT Partners LLC grew its stake in TaskUs by 6.8% during the 4th quarter. PDT Partners LLC now owns 45,189 shares of the company's stock worth $766,000 after buying an additional 2,893 shares during the last quarter. Finally, American Century Companies Inc. increased its position in TaskUs by 11.6% during the 4th quarter. American Century Companies Inc. now owns 36,888 shares of the company's stock valued at $625,000 after buying an additional 3,841 shares in the last quarter. 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.