WNY Asset Management LLC Invests $383,000 in RCM Technologies, Inc. $RCMT

WNY Asset Management LLC acquired a new stake in shares of RCM Technologies, Inc. (NASDAQ:RCMT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the business services provider’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings 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 worth $45,000 after purchasing an additional 579 shares during the last quarter. JPMorgan Chase & Co. grew its position in RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in RCM Technologies during the 3rd quarter valued at $60,000. Lazard Asset Management LLC purchased a new stake in RCM Technologies during the 2nd quarter valued at $77,000. Finally, New York State Common Retirement Fund bought a new position in shares of RCM Technologies during the 2nd quarter valued at $101,000. Institutional investors own 43.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RCMT shares. Weiss Ratings restated a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Wall Street Zen raised RCM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Benchmark raised their target price on RCM Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

RCM Technologies Stock Down 0.7%

RCMT opened at $28.29 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $32.50. The company has a market capitalization of $200.52 million, a PE ratio of 13.34 and a beta of 0.29. The firm’s 50 day simple moving average is $26.34 and its two-hundred day simple moving average is $23.88.

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.