RCM Technologies (NASDAQ:RCMT) CFO Kevin Miller Sells 30,000 Shares of Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 30,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $34.02, for a total transaction of $1,020,600.00. Following the completion of the transaction, the chief financial officer directly owned 398,362 shares in the company, valued at approximately $13,552,275.24. This represents a 7.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Stock Performance

NASDAQ:RCMT opened at $41.05 on Wednesday. The firm’s fifty day simple moving average is $28.40 and its 200 day simple moving average is $24.85. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48. RCM Technologies, Inc. has a twelve month low of $17.26 and a twelve month high of $42.04. The firm has a market capitalization of $291.04 million, a price-to-earnings ratio of 17.85 and a beta of 0.29.

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

Trending Headlines about RCM Technologies

Here are the key news stories impacting RCM Technologies this week:

• Positive Sentiment: Benchmark raised its price target to $45 from $36 and maintained a “buy” rating. B. Riley also increased its target to $45 and reiterated a buy rating. The $45 target is now the consensus target, implying additional potential upside from recent levels.
• Positive Sentiment: RCMT’s latest quarterly results were stronger than expected, with earnings per share of $0.82 versus the $0.62 consensus estimate and revenue of $93.82 million compared with expectations of $81.75 million. The company’s 37.9% return on equity and projected full-year EPS of $2.23 add support to the bullish analyst outlook.
• Neutral Sentiment: Institutional ownership stands at 43.2%, with Geode Capital, Russell Investments, Jane Street and JPMorgan among investors that recently increased their positions. This suggests growing institutional interest, although the purchases were reported for prior quarters rather than the current session.
• Negative Sentiment: Insiders disclosed approximately $7.7 million in stock sales from August 14–18. CFO Kevin D. Miller sold 94,413 shares, Chairman Bradley Vizi sold 100,000 shares, and insider Michael Saks sold 11,792 shares. The transactions reduced their holdings by roughly 1.3% to 15.1%.
• Negative Sentiment: The insider sales occurred as RCMT advanced sharply from its 52-week low and approached its 52-week high, which could signal profit-taking and may weigh on investor sentiment. However, the CFO’s transactions were executed under a pre-arranged Rule 10b5-1 plan, making them less clearly indicative of a change in management’s outlook. SEC insider transaction filing

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of RCM Technologies by 44.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in RCM Technologies during the third quarter worth $60,000. JPMorgan Chase & Co. boosted its holdings in RCM Technologies by 1,241.0% in 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. Lazard Asset Management LLC acquired a new position in RCM Technologies in the second quarter worth $77,000. Finally, Bank of America Corp DE increased its stake in RCM Technologies by 28.1% during the third quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 915 shares during the last quarter. Institutional investors and hedge funds own 43.20% of the company’s stock.

Analyst Ratings Changes

RCMT has been the topic of several analyst reports. Benchmark raised their target price on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday. Finally, B. Riley Financial boosted their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, RCM Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

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.