RCM Technologies (NASDAQ:RCMT) CFO Sells 60,000 Shares of Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $37.98, for a total value of $2,278,800.00. Following the completion of the transaction, the chief financial officer directly owned 338,362 shares in the company, valued at $12,850,988.76. The trade was a 15.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Stock Performance

Shares of NASDAQ RCMT traded up $0.62 during trading hours on Tuesday, reaching $41.05. 181,762 shares of the stock were exchanged, compared to its average volume of 63,971. The firm has a market capitalization of $291.04 million, a price-to-earnings ratio of 17.85 and a beta of 0.29. The stock’s fifty day simple moving average is $28.07 and its 200 day simple moving average is $24.70. 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, Inc. has a 52 week low of $17.26 and a 52 week high of $42.04.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 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 analyst estimates of $81.75 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%. Sell-side analysts predict that RCM Technologies, Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on RCMT shares. B. Riley Financial raised their price target on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research downgraded shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday. Benchmark raised their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd raised its stake in RCM Technologies by 5.4% in the third quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 576 shares in the last quarter. BNP Paribas Financial Markets grew its stake in RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after buying an additional 579 shares in the last quarter. Bank of America Corp DE increased its holdings in RCM Technologies by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after buying an additional 915 shares during the period. Janney Montgomery Scott LLC raised its position in shares of RCM Technologies by 3.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock valued at $684,000 after buying an additional 1,341 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of RCM Technologies by 2.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 69,304 shares of the business services provider’s stock valued at $1,417,000 after buying an additional 1,674 shares in the last quarter. Institutional investors own 43.20% of the company’s stock.

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.