TaskUs (NASDAQ:TASK) Sees Unusually-High Trading Volume - Should You Buy?

Shares of TaskUs, Inc. (NASDAQ:TASK - Get Free Report) saw strong trading volume on Wednesday . 809,616 shares changed hands during mid-day trading, an increase of 154% from the previous session's volume of 319,145 shares.The stock last traded at $16.51 and had previously closed at $16.78.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TASK shares. Baird R W cut TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. William Blair lowered shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank of Canada decreased their target price on TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, Robert W. Baird cut TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target on the stock. in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, TaskUs has a consensus rating of "Hold" and an average price target of $16.86.

TaskUs Stock 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 stock has a fifty day moving average price of $14.38 and a two-hundred day moving average price of $15.05. The company has a market cap of $1.49 billion, a P/E ratio of 28.42, a PEG ratio of 3.92 and a beta of 2.16.

Insider Transactions at TaskUs

In related news, insider Jarrod Johnson sold 21,437 shares of the company's stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 30.63% of the company's stock.

Institutional Trading of TaskUs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in shares of TaskUs during the fourth quarter valued at approximately $613,000. Raymond James Financial Inc. acquired a new stake in TaskUs during the 4th quarter valued at $408,000. Vontobel Holding Ltd. purchased a new position in shares of TaskUs during the fourth quarter valued at $338,000. Two Sigma Investments LP raised its position in TaskUs by 25.5% during the fourth quarter. Two Sigma Investments LP now owns 281,864 shares of the company's stock valued at $4,775,000 after buying an additional 57,248 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in TaskUs by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company's stock worth $7,979,000 after acquiring an additional 23,713 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

About TaskUs

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.