TaskUs (NASDAQ:TASK) Stock Price Up 3.5% - Time to Buy?

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) shares shot up 3.5% on Tuesday . The company traded as high as $12.43 and last traded at $11.97. 215,571 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 262,557 shares. The stock had previously closed at $11.57.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their target price 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 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, TaskUs has a consensus rating of "Hold" and an average target price of $17.86.

TaskUs Stock Performance

The company's 50-day moving average price is $13.95 and its 200 day moving average price is $14.54. The stock has a market capitalization of $1.12 billion, a PE ratio of 21.14, 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 issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The company had revenue of $274.24 million during the quarter, compared to analysts' expectations of $268.65 million. On average, equities research analysts expect that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 29.26% of the company's stock.

Institutional Trading of TaskUs

Hedge funds have recently made changes to their positions in the stock. Think Investments LP raised its stake in TaskUs by 14.5% during the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company's stock valued at $48,813,000 after buying an additional 364,608 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of TaskUs by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock valued at $16,223,000 after acquiring an additional 69,704 shares in the last quarter. Royce & Associates LP raised its position in shares of TaskUs by 10.9% in the 4th quarter. Royce & Associates LP now owns 742,679 shares of the company's stock worth $12,581,000 after purchasing an additional 73,100 shares during the last quarter. Renaissance Technologies LLC boosted its stake in TaskUs by 7.0% in the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company's stock worth $8,430,000 after purchasing an additional 32,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in TaskUs by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company's stock valued at $7,979,000 after purchasing an additional 23,713 shares during the last quarter. 44.64% of the stock is owned by institutional investors.

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.