TaskUs Sees Unusually Large Options Volume (NASDAQ:TASK)

TaskUs, Inc. (NASDAQ:TASK) was the target of some unusual options trading on Thursday. Investors acquired 3,193 put options on the company. This is an increase of 1,123% compared to the average volume of 261 put options.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, December 9th. Royal Bank of Canada raised their target price on TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Thursday. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Finally, Robert W. Baird increased their price target on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TaskUs currently has a consensus rating of “Hold” and a consensus price target of $17.25.

TaskUs Stock Performance

Shares of TASK stock opened at $14.45 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of 24.49, a P/E/G ratio of 3.92 and a beta of 2.21. The business’s 50 day moving average is $16.09 and its two-hundred day moving average is $14.52. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs has a 12-month low of $10.56 and a 12-month high of $19.60.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). The firm had revenue of $274.24 million during the quarter, compared to analysts’ expectations of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. Analysts expect that TaskUs will post 0.9 EPS for the current fiscal year.

Insider Activity

In related news, COO Stephan Daoust sold 62,159 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $18.23, for a total transaction of $1,133,158.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $18.11, for a total value of $1,368,735.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,338 shares of company stock valued at $2,548,902. Company insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of TaskUs by 22.1% in 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 valued at $1,132,000 after acquiring an additional 12,080 shares in the last quarter. Woodline Partners LP purchased a new position in shares of TaskUs in the fourth quarter valued at approximately $277,000. Two Sigma Advisers LP lifted its position in shares of TaskUs by 26.8% in the fourth quarter. Two Sigma Advisers LP now owns 264,800 shares of the company’s stock valued at $4,486,000 after acquiring an additional 55,900 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of TaskUs by 25.5% in the fourth quarter. Two Sigma Investments LP now owns 281,864 shares of the company’s stock valued at $4,775,000 after acquiring an additional 57,248 shares in the last quarter. Finally, Think Investments LP lifted its position in shares of TaskUs by 14.5% in the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock valued at $48,813,000 after acquiring an additional 364,608 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.