Punch & Associates Investment Management Inc. Has $2.78 Million Position in RCM Technologies, Inc. $RCMT

Punch & Associates Investment Management Inc. raised its stake in RCM Technologies, Inc. (NASDAQ:RCMT) by 40.0% in the 4th quarter, HoldingsChannel reports. The firm owned 136,078 shares of the business services provider’s stock after acquiring an additional 38,872 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in RCM Technologies were worth $2,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RCMT. BNP Paribas Financial Markets increased its stake in RCM Technologies by 44.1% in the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 579 shares in the last quarter. JPMorgan Chase & Co. increased its stake in RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 2,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in RCM Technologies in the third quarter valued at $60,000. Lazard Asset Management LLC bought a new stake in RCM Technologies in the second quarter valued at $77,000. Finally, New York State Common Retirement Fund bought a new stake in RCM Technologies in the second quarter valued at $101,000. 43.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Bradley Vizi sold 13,666 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $27.55, for a total transaction of $376,498.30. Following the transaction, the chairman directly owned 1,497,477 shares in the company, valued at approximately $41,255,491.35. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin D. Miller sold 4,734 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $32.00, for a total transaction of $151,488.00. Following the transaction, the chief financial officer owned 439,066 shares in the company, valued at approximately $14,050,112. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 36,437 shares of company stock worth $1,068,434. 28.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RCMT has been the subject of several research analyst reports. Benchmark lifted their price target on shares of RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Zacks Research downgraded shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, RCM Technologies currently has a consensus rating of “Hold” and a consensus price target of $36.00.

RCM Technologies Stock Up 0.3%

Shares of NASDAQ RCMT opened at $26.03 on Wednesday. The stock has a market capitalization of $184.50 million, a P/E ratio of 12.28 and a beta of 0.34. The company has a 50-day moving average price of $26.73 and a 200-day moving average price of $22.16. RCM Technologies, Inc. has a 1 year low of $17.26 and a 1 year high of $32.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Friday, April 3rd. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.46 million. RCM Technologies had a net margin of 5.03% and a return on equity of 37.76%. On average, equities research analysts forecast that RCM Technologies, Inc. will post 2.23 EPS for the current fiscal year.

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.