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

TaskUs, Inc. (NASDAQ:TASK) was the target of a large decrease in short interest in 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. Based on an average daily trading volume, of 381,200 shares, the short-interest ratio is presently 3.6 days. Approximately 7.8% of the shares of the stock are sold short.

TaskUs Stock Performance

NASDAQ:TASK opened at $12.80 on Tuesday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 3.92 and a beta of 2.17. TaskUs has a 1 year low of $10.57 and a 1 year high of $19.60. The stock’s 50 day simple moving average is $13.59 and its two-hundred day simple moving average is $14.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $268.65 million. As a group, equities analysts anticipate that TaskUs will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price target on TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.86.

Insiders Place Their Bets

In other news, insider Jarrod Johnson sold 21,437 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 29.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Think Investments LP increased its position in shares of TaskUs by 14.5% during the 4th quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock valued at $48,813,000 after purchasing an additional 364,608 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of TaskUs by 7.9% in 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 during the period. Royce & Associates LP lifted its holdings 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 acquiring an additional 73,100 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of TaskUs by 85.9% during the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company’s stock worth $8,885,000 after purchasing an additional 301,119 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in TaskUs by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company’s stock valued at $8,430,000 after purchasing an additional 32,500 shares during the last quarter. 44.64% of the stock is currently owned by hedge funds and other 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.