TaskUs (NASDAQ:TASK) Trading Down 9.6% – Here’s What Happened

Shares of TaskUs, Inc. (NASDAQ:TASK) dropped 9.6% on Monday . The stock traded as low as $11.59 and last traded at $11.68. Approximately 148,007 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 260,515 shares. The stock had previously closed at $12.92.

Analyst Upgrades and Downgrades

Several research firms recently commented on TASK. Royal Bank of Canada increased their price objective on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Thursday, February 27th. Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $21.00 in a research note on Friday, December 13th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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 company has a market capitalization of $1.18 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 3.92 and a beta of 2.17. The firm’s 50-day moving average is $14.10 and its 200-day moving average is $14.54.

TaskUs (NASDAQ:TASK) 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 analysts’ expectations of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. Analysts predict that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Insider Transactions at TaskUs

In related news, insider Jarrod Johnson sold 15,460 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total value of $204,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.26% of the company’s stock.

Institutional Investors Weigh In On TaskUs

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in 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 purchasing an additional 699 shares during the period. BNP Paribas Financial Markets bought a new position in shares of TaskUs during the 4th quarter valued at about $80,000. KLP Kapitalforvaltning AS purchased a new stake in shares of TaskUs in the fourth quarter worth about $81,000. Point72 Asset Management L.P. purchased a new position in TaskUs during the 4th quarter valued at approximately $83,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of TaskUs during the 4th quarter worth approximately $115,000. 44.64% of the stock is owned by institutional investors.

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.