TaskUs Sees Unusually Large Options Volume (NASDAQ:TASK)

TaskUs, Inc. (NASDAQ:TASK) was the target of unusually large options trading on Thursday. Stock traders purchased 3,193 put options on the company. This is an increase of approximately 1,123% compared to the typical daily volume of 261 put options.

TaskUs Price Performance

TASK opened at $14.45 on Friday. The business has a fifty day moving average of $16.09 and a 200 day moving average of $14.52. TaskUs has a 52-week low of $10.56 and a 52-week high of $19.60. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.29 billion, a P/E ratio of 24.49, a PEG ratio of 3.92 and a beta of 2.21.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings data 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, sell-side analysts anticipate that TaskUs will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of TaskUs stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $18.23, for a total value of $1,133,158.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Steven Amaya sold 75,579 shares of TaskUs stock in a transaction that occurred on 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. Insiders have sold a total of 140,338 shares of company stock valued at $2,548,902 in the last quarter. 29.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TaskUs

Hedge funds have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of TaskUs by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock worth $3,407,000 after buying an additional 84,988 shares during the period. Royce & Associates LP lifted its stake in shares of TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after purchasing an additional 54,770 shares during the last quarter. Seldon Capital LP purchased a new stake in shares of TaskUs during the 3rd quarter worth $5,393,000. JPMorgan Chase & Co. purchased a new stake in shares of TaskUs during the 3rd quarter worth $1,006,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of TaskUs during the 4th quarter worth $613,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.