TaskUs (NASDAQ:TASK) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of TaskUs, Inc. (NASDAQ:TASK) saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 510,159 shares changed hands 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. Shareholders of record on Wednesday, March 11th will be paid a dividend of $3.65 per share. The ex-dividend date of this dividend is Wednesday, March 11th.

Wall Street Analyst Weigh In

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

TaskUs Price Performance

The company has a market capitalization of $968.76 million, a price-to-earnings 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 has a 50 day moving average price of $11.10 and a 200 day moving average price of $13.49.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of TaskUs by 9,224.0% during the 4th quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock worth $27,000 after buying an additional 2,306 shares during the period. Strategic Advocates LLC acquired a new stake in TaskUs during the 3rd quarter worth $41,000. FNY Investment Advisers LLC grew its holdings in TaskUs by 40.0% during the 4th quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company’s stock worth $41,000 after acquiring an additional 1,000 shares during the period. State of Wyoming bought a new stake in shares of TaskUs during the 4th quarter valued at $59,000. Finally, New York State Common Retirement Fund acquired a new position in shares of TaskUs in the 2nd quarter valued at $67,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Company Profile

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.