RCM Technologies (NASDAQ:RCMT) Insider Michael Saks Sells 10,000 Shares of Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 10,000 shares of RCM Technologies stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $41.07, for a total value of $410,700.00. Following the completion of the sale, the insider directly owned 89,307 shares in the company, valued at $3,667,838.49. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Saks also recently made the following trade(s):

• On Friday, August 14th, Michael Saks sold 11,792 shares of RCM Technologies stock. The shares were sold at an average price of $33.56, for a total value of $395,739.52.

RCM Technologies Trading Up 2.2%

Shares of RCMT stock opened at $41.03 on Friday. RCM Technologies, Inc. has a fifty-two week low of $17.26 and a fifty-two week high of $42.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s fifty day moving average is $29.03 and its two-hundred day moving average is $25.13. The firm has a market capitalization of $291.72 million, a P/E ratio of 17.84 and a beta of 0.29.

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

Institutional Investors Weigh In On RCM Technologies

A number of large investors have recently modified their holdings of RCMT. Sei Investments Co. raised its stake in RCM Technologies by 209.9% in the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after buying an additional 85,936 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of 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 worth $2,782,000 after acquiring an additional 38,872 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of RCM Technologies by 40.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock valued at $5,280,000 after acquiring an additional 74,760 shares during the last quarter. Meros Investment Management LP raised its position in shares of RCM Technologies by 69.0% during the 4th quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider’s stock worth $1,348,000 after acquiring an additional 26,924 shares in the last quarter. Finally, WNY Asset Management LLC acquired a new stake in shares of RCM Technologies during the 1st quarter worth about $383,000. 43.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RCMT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Benchmark increased their price objective on RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley Financial boosted their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Zacks Research downgraded RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

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.