TaskUs, Inc. (NASDAQ:TASK) Short Interest Down 17.5% in March

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

Insider Buying and Selling at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 29.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TaskUs

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its position in TaskUs by 988.7% during the 1st quarter. Blue Trust Inc. now owns 18,257 shares of the company's stock worth $249,000 after acquiring an additional 16,580 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in TaskUs in the 1st quarter valued at approximately $236,000. SG Americas Securities LLC increased its position in TaskUs by 85.9% in the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company's stock worth $8,885,000 after buying an additional 301,119 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of TaskUs in the first quarter valued at approximately $63,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in TaskUs by 22.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,841 shares of the company's stock worth $1,132,000 after acquiring an additional 12,080 shares during the period. Institutional investors own 44.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their price objective on TaskUs from $18.00 to $20.00 and gave the stock a "sector perform" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, TaskUs presently has an average rating of "Hold" and a consensus price target of $17.86.

TaskUs Stock Up 0.3 %

Shares of TaskUs stock traded up $0.04 during trading on Friday, hitting $13.53. 112,646 shares of the stock traded hands, compared to its average volume of 353,594. The company has a fifty day moving average price of $13.44 and a two-hundred day moving average price of $14.56. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60. The stock has a market cap of $1.22 billion, a P/E ratio of 22.92, a PEG ratio of 3.92 and a beta of 2.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02.

TaskUs (NASDAQ:TASK - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share (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 business had revenue of $274.24 million during the quarter, compared to analyst estimates of $268.65 million. Equities research analysts predict that TaskUs will post 0.9 EPS for the current fiscal 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.