RCM Technologies (NASDAQ:RCMT) Raised to “Strong-Buy” at Wall Street Zen

RCM Technologies (NASDAQ:RCMT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a note issued to investors on Sunday.

Several other analysts have also recently issued reports on the company. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

RCM Technologies Trading Up 15.3%

NASDAQ:RCMT opened at $40.43 on Friday. The firm has a 50-day simple moving average of $28.07 and a 200-day simple moving average of $24.70. RCM Technologies has a one year low of $17.26 and a one year high of $40.68. The firm has a market cap of $286.65 million, a P/E ratio of 17.58 and a beta of 0.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $93.82 million for the quarter, compared to the consensus estimate of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. Equities analysts anticipate that RCM Technologies will post 2.23 EPS for the current fiscal year.

Insider Activity at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 11,792 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $33.56, for a total value of $395,739.52. Following the completion of the sale, the insider directly owned 99,307 shares in the company, valued at $3,332,742.92. This trade represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RCM Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of RCM Technologies by 209.9% during the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after purchasing an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in RCM Technologies by 40.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after buying an additional 74,760 shares during the last quarter. Geode Capital Management LLC grew its stake in RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after buying an additional 53,094 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in RCM Technologies by 40.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock valued at $2,782,000 after buying an additional 38,872 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in RCM Technologies by 264.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after buying an additional 35,835 shares in the last quarter. 43.20% of the stock is owned by hedge funds and other institutional investors.

About RCM Technologies

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.