TaskUs (NASDAQ:TASK) Cut to “Hold” at Baird R W

Baird R W lowered shares of TaskUs (NASDAQ:TASK) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

TASK has been the topic of a number of other research reports. Robert W. Baird cut shares of TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 target price on the stock. in a research note on Monday. Royal Bank of Canada decreased their price target on shares of TaskUs from $20.00 to $16.50 and set a “sector perform” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.86.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $16.88 on Monday. The firm’s 50 day moving average price is $13.44 and its 200-day moving average price is $14.80. 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 capitalization of $1.52 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 3.92 and a beta of 2.16. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $277.79 million during the quarter, compared to analysts’ expectations of $271.06 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. Equities research analysts expect that TaskUs will post 0.9 EPS for the current year.

Insider Buying and Selling

In related news, insider Jarrod Johnson sold 21,437 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 30.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dalton Investments Inc. raised its position in TaskUs by 10.3% during the first quarter. Dalton Investments Inc. now owns 750,146 shares of the company’s stock worth $10,224,000 after acquiring an additional 69,900 shares during the period. Invesco Ltd. purchased a new stake in shares of TaskUs during the first quarter worth about $182,000. Royce & Associates LP raised its position in shares of TaskUs by 6.4% during the 1st quarter. Royce & Associates LP now owns 790,289 shares of the company’s stock worth $10,772,000 after purchasing an additional 47,610 shares during the last quarter. Victory Capital Management Inc. lifted its stake in TaskUs by 125.6% in the 1st quarter. Victory Capital Management Inc. now owns 25,023 shares of the company’s stock valued at $341,000 after buying an additional 13,933 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in TaskUs by 988.7% in the 1st quarter. Blue Trust Inc. now owns 18,257 shares of the company’s stock worth $249,000 after buying an additional 16,580 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.