RCM Technologies (NASDAQ:RCMT) Raised to “Strong-Buy” at Zacks Research

RCM Technologies (NASDAQ:RCMT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

RCMT has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Wall Street Zen upgraded shares of RCM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Benchmark boosted their price objective on shares of RCM Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, RCM Technologies currently has a consensus rating of “Buy” and a consensus price target of $36.00.

RCM Technologies Stock Up 0.6%

Shares of NASDAQ RCMT opened at $28.52 on Monday. RCM Technologies has a 12-month low of $15.29 and a 12-month high of $29.31. The firm’s 50-day simple moving average is $20.19 and its 200 day simple moving average is $20.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.54. The company has a market cap of $200.21 million, a price-to-earnings ratio of 13.33 and a beta of -0.01.

Insiders Place Their Bets

In related news, Chairman Bradley Vizi sold 8,237 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $27.52, for a total value of $226,682.24. Following the completion of the sale, the chairman owned 1,489,240 shares in the company, valued at $40,983,884.80. This represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 28.00% of the company’s stock.

Hedge Funds Weigh In On RCM Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of RCM Technologies by 44.1% in the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after buying an additional 579 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in RCM Technologies by 1,241.0% during the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in RCM Technologies during the third quarter worth about $60,000. Lazard Asset Management LLC bought a new position in RCM Technologies during the second quarter worth about $77,000. Finally, New York State Common Retirement Fund bought a new position in RCM Technologies during the second quarter worth about $101,000. 43.20% of the stock is owned by institutional investors.

RCM Technologies Company Profile

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.