RCM Technologies (NASDAQ:RCMT) CFO Kevin Miller Sells 1,753 Shares of Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 1,753 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.05, for a total value of $73,713.65. Following the transaction, the chief financial officer directly owned 330,863 shares of the company’s stock, valued at approximately $13,912,789.15. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

RCM Technologies Price Performance

RCM Technologies stock opened at $40.97 on Friday. The company’s fifty day moving average price is $30.55 and its 200 day moving average price is $25.87. RCM Technologies, Inc. has a 1 year low of $17.26 and a 1 year high of $42.26. The stock has a market capitalization of $291.30 million, a P/E ratio of 17.81 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 posted its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $93.82 million during the quarter, compared to analysts’ expectations of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. As a group, equities research analysts anticipate that RCM Technologies, Inc. will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RCMT shares. Benchmark lifted their price objective on RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Zacks Research upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday. B. Riley Financial lifted their price target on RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $45.00.

Institutional Trading of RCM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its position 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 acquiring an additional 85,936 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in RCM Technologies by 40.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after purchasing an additional 38,872 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in RCM Technologies by 40.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after purchasing an additional 74,760 shares during the last quarter. Meros Investment Management LP raised its stake in RCM Technologies by 69.0% during the fourth quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider’s stock worth $1,348,000 after purchasing an additional 26,924 shares during the period. Finally, WNY Asset Management LLC purchased a new position in RCM Technologies during the first quarter worth about $383,000. 43.20% of the stock is owned by institutional investors and hedge funds.

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.