TaskUs (NASDAQ:TASK) Sees Large Volume Increase Following Dividend Announcement

TaskUs, Inc. (NASDAQ:TASK) saw an uptick in trading volume on Thursday following a dividend announcement from the company. 510,159 shares were traded during mid-day trading, an increase of 35% from the previous session’s volume of 377,050 shares.The stock last traded at $10.6550 and had previously closed at $10.63.

The newly announced dividend which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a $3.65 dividend. The ex-dividend date is Wednesday, March 11th.

Analyst Ratings Changes

Several analysts recently weighed in on TASK shares. Royal Bank Of Canada increased their target price on TaskUs from $16.50 to $17.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Zacks Research cut TaskUs from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Wall Street Zen raised shares of TaskUs to a “strong-buy” rating in a research report on Saturday, January 17th. Wedbush assumed coverage on shares of TaskUs in a report on Tuesday, February 3rd. They issued an “outperform” rating and a $15.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of TaskUs to a “strong sell” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.63.

TaskUs Price Performance

The stock has a market cap of $968.76 million, a P/E ratio of 12.05 and a beta of 2.12. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $11.10 and its 200-day simple moving average is $13.49.

Institutional Investors Weigh In On TaskUs

Large investors have recently modified their holdings of the stock. Think Investments LP lifted its position in shares of TaskUs by 14.8% during the 2nd quarter. Think Investments LP now owns 3,734,665 shares of the company’s stock worth $62,593,000 after buying an additional 481,307 shares during the period. Vanguard Group Inc. raised its stake in TaskUs by 39.6% during the third quarter. Vanguard Group Inc. now owns 1,536,748 shares of the company’s stock worth $27,431,000 after acquiring an additional 435,892 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in TaskUs by 1.4% during the fourth quarter. Hudson Bay Capital Management LP now owns 1,011,085 shares of the company’s stock worth $11,921,000 after acquiring an additional 14,106 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of TaskUs during the second quarter valued at $16,325,000. Finally, Irenic Capital Management LP acquired a new stake in shares of TaskUs in the 4th quarter valued at $11,253,000. 44.64% of the stock is currently owned by institutional investors.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.