Insider Selling: RCM Technologies (NASDAQ:RCMT) Insider Sells $410,700.00 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 10,000 shares of RCM Technologies stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $41.07, for a total transaction of $410,700.00. Following the completion of the sale, the insider owned 89,307 shares of the company’s stock, valued at $3,667,838.49. This trade represents a 10.07% decrease in their position. The sale was disclosed in a 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 transaction of $395,739.52.

RCM Technologies Stock Performance

Shares of NASDAQ:RCMT opened at $40.86 on Friday. RCM Technologies, Inc. has a 12-month low of $17.26 and a 12-month high of $42.04. The company’s 50 day moving average price is $29.34 and its two-hundred day moving average price is $25.24. The firm has a market cap of $290.51 million, a PE ratio of 17.77 and a beta of 0.29. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48.

RCM Technologies (NASDAQ:RCMT) last issued 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. The business had revenue of $93.82 million during the quarter, compared to analysts’ expectations of $81.75 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%. Equities research analysts predict that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Qube Research & Technologies Ltd boosted its stake in shares of RCM Technologies by 5.4% in the 3rd 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 increased its position in RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after purchasing an additional 579 shares in the last quarter. Bank of America Corp DE increased its position in RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock worth $111,000 after purchasing an additional 915 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in 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 purchasing an additional 1,341 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in RCM Technologies by 2.5% in the fourth 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.

Analysts Set New Price Targets

RCMT has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Benchmark upped their price target on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, B. Riley Financial lifted their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, RCM Technologies 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.