Insider Selling: RCM Technologies (NASDAQ:RCMT) CFO Sells $2,278,800.00 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 60,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $37.98, for a total transaction of $2,278,800.00. Following the sale, the chief financial officer directly owned 338,362 shares of the company’s stock, valued at $12,850,988.76. This represents a 15.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Trading Up 2.2%

NASDAQ RCMT opened at $41.03 on Friday. The stock has a market cap of $291.72 million, a PE ratio of 17.84 and a beta of 0.29. 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 $29.03 and its 200-day moving average price is $25.13. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48.

RCM Technologies (NASDAQ:RCMT) last announced its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $93.82 million during the quarter, compared to analyst estimates of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. Equities research analysts forecast that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On RCM Technologies

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after buying an additional 579 shares during the period. JPMorgan Chase & Co. lifted its holdings in RCM Technologies by 1,241.0% during the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after buying an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in RCM Technologies during the third quarter worth $60,000. Lazard Asset Management LLC bought a new stake in RCM Technologies during the 2nd quarter valued at $77,000. Finally, New York State Common Retirement Fund bought a new stake in RCM Technologies during the 2nd quarter valued at $101,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.