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

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 30,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 398,362 shares of the company’s stock, valued at $13,552,275.24. This represents a 7.00% decrease in their position. The sale was disclosed in a filing 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 Price Performance

RCMT stock opened at $40.16 on Thursday. 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 firm has a 50 day moving average price of $28.71 and a 200-day moving average price of $24.99. RCM Technologies, Inc. has a 52-week low of $17.26 and a 52-week high of $42.04. The firm has a market capitalization of $285.54 million, a price-to-earnings ratio of 17.46 and a beta of 0.29.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, topping 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 company had revenue of $93.82 million for the quarter, compared to the consensus estimate of $81.75 million. Equities research analysts forecast that RCM Technologies, Inc. will post 2.23 EPS for the current fiscal year.

Key RCM Technologies News

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

• Positive Sentiment: Benchmark raised its price target for RCMT to $45 from $36 and maintained a “buy” rating. B. Riley Financial also lifted its target to $45 and reiterated a buy rating. The $45 consensus target suggests further upside from recent trading levels. Benchmark price target article
• Positive Sentiment: RCM Technologies reported a quarterly EPS of $0.82, exceeding the $0.62 analyst consensus, while revenue of $93.82 million surpassed expectations of $81.75 million. The earnings beat, 37.9% return on equity and projected full-year EPS of $2.23 provide fundamental support for the positive analyst outlook.
• Neutral Sentiment: Wall Street Zen upgraded the stock to “strong buy,” although other ratings remain mixed. Two analysts rate RCMT a buy and two rate it a hold, resulting in a “Moderate Buy” consensus.
• Neutral Sentiment: Institutional ownership is approximately 43.2%. Geode Capital, Russell Investments, Jane Street and JPMorgan recently increased their positions, but these holdings were reported for prior quarters and may not reflect current trading activity.
• Negative Sentiment: Company insiders disclosed roughly $7.7 million in stock sales from August 14–18. CFO Kevin Miller sold 94,413 shares, Chairman Bradley Vizi sold 100,000 shares, and insider Michael Saks sold 11,792 shares, reducing their respective positions by approximately 1.3% to 15.1%.
• Negative Sentiment: The sales occurred as RCMT approached its 52-week high, potentially signaling profit-taking and weighing on sentiment. However, Miller’s transactions were conducted under pre-arranged Rule 10b5-1 plans, making them less conclusive evidence of a deteriorating management outlook. SEC insider transaction filing

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds have recently made changes to their positions in the business. Punch & Associates Investment Management Inc. boosted its stake in RCM Technologies by 40.0% in 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 purchasing an additional 38,872 shares during the period. Sei Investments Co. increased its stake 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 worth $2,428,000 after acquiring an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its stake in 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 worth $5,280,000 after acquiring an additional 74,760 shares during the last quarter. Meros Investment Management LP raised its holdings 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 purchased a new stake in shares of RCM Technologies during the 1st quarter worth approximately $383,000. 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.