RCM Technologies (NASDAQ:RCMT) CFO Sells $55,986.00 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 1,333 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $42.00, for a total transaction of $55,986.00. Following the completion of the sale, the chief financial officer directly owned 332,616 shares of the company’s stock, valued at approximately $13,969,872. This trade represents a 0.40% 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 hyperlink.

RCM Technologies Stock Performance

Shares of RCMT stock traded up $0.38 during mid-day trading on Thursday, reaching $40.97. The stock had a trading volume of 93,610 shares, compared to its average volume of 64,402. The firm’s 50 day simple moving average is $30.26 and its 200 day simple moving average is $25.72. 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, Inc. has a one year low of $17.26 and a one year high of $42.26. The firm has a market cap of $291.30 million, a PE ratio of 17.81 and a beta of 0.29.

RCM Technologies (NASDAQ:RCMT) last issued its earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $81.75 million. On average, analysts forecast that RCM Technologies, Inc. will post 2.6 EPS for the current year.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd grew its stake in shares of RCM Technologies by 5.4% during the third quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock worth $297,000 after buying an additional 576 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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. Bank of America Corp DE boosted its holdings in shares of 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 valued at $111,000 after acquiring an additional 915 shares in the last quarter. Janney Montgomery Scott LLC grew its position in RCM Technologies by 3.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock worth $684,000 after acquiring an additional 1,341 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in RCM Technologies by 570.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,778 shares of the business services provider’s stock worth $50,000 after purchasing an additional 1,513 shares in the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RCMT has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Benchmark lifted their price objective on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. B. Riley Financial lifted their price target on RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. 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. Finally, Zacks Research raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target 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.