TaskUs (NASDAQ:TASK) Shares Down 5.4%

Shares of TaskUs, Inc. (NASDAQ:TASK) were down 5.4% on Wednesday . The company traded as low as $12.16 and last traded at $12.20. Approximately 91,377 shares changed hands during trading, a decline of 58% from the average daily volume of 219,664 shares. The stock had previously closed at $12.89.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TASK shares. Robert W. Baird increased their price objective on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. lowered their price objective on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. The Goldman Sachs Group started coverage on TaskUs in a research note on Monday, June 24th. They issued a “sell” rating and a $12.00 price objective for the company. Citigroup increased their price objective on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada increased their price objective on TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.38.

TaskUs Trading Down 4.8 %

The firm has a fifty day simple moving average of $13.83 and a two-hundred day simple moving average of $13.41. The firm has a market capitalization of $1.09 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 3.27 and a beta of 2.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.23 and a quick ratio of 3.23.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. The business had revenue of $237.93 million during the quarter, compared to analyst estimates of $231.15 million. On average, equities research analysts anticipate that TaskUs, Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in TaskUs during the second quarter valued at approximately $28,000. Quarry LP grew its position in shares of TaskUs by 326.6% during the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after purchasing an additional 3,308 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after purchasing an additional 1,988 shares during the period. Hsbc Holdings PLC raised its position in shares of TaskUs by 19.7% in the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock worth $225,000 after buying an additional 2,779 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of TaskUs by 11.4% in the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock worth $372,000 after buying an additional 2,863 shares in the last quarter. 44.64% of the stock is currently 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.