Michael Saks Sells 11,792 Shares of RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 11,792 shares of RCM Technologies stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $33.56, for a total transaction of $395,739.52. Following the transaction, the insider directly owned 99,307 shares in the company, valued at $3,332,742.92. This trade represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $291.04 million, a price-to-earnings ratio of 17.85 and a beta of 0.29. The company’s 50-day moving average is $28.40 and its two-hundred day moving average is $24.85. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $42.04.

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, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. Analysts forecast that RCM Technologies, Inc. will post 2.23 EPS for the current year.

More RCM Technologies News

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

Analysts Set New Price Targets

RCMT has been the topic of a number of research analyst reports. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. 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. Benchmark upped their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Finally, Zacks Research cut shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Institutional Trading of RCM Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in RCM Technologies by 209.9% in 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 in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of RCM Technologies by 78.9% during the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of RCM Technologies by 40.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock valued at $2,782,000 after purchasing an additional 38,872 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of RCM Technologies by 264.4% in the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 35,835 shares in the last quarter. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.