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

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 11,792 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $33.56, for a total value of $395,739.52. Following the transaction, the insider directly owned 99,307 shares in the company, valued at approximately $3,332,742.92. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Trading Up 15.3%

Shares of RCM Technologies stock opened at $40.43 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92. RCM Technologies, Inc. has a 52 week low of $17.26 and a 52 week high of $40.68. The stock has a 50 day moving average price of $28.07 and a two-hundred day moving average price of $24.70. The stock has a market capitalization of $286.65 million, a PE ratio of 17.58 and a beta of 0.29.

RCM Technologies (NASDAQ:RCMT) last issued its 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. 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 analysts’ expectations of $81.75 million. As a group, equities analysts anticipate that RCM Technologies, Inc. will post 2.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in RCMT. BNP Paribas Financial Markets grew its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in RCM Technologies in the third quarter worth about $60,000. JPMorgan Chase & Co. raised its position 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 worth $55,000 after acquiring an additional 2,147 shares during the period. Lazard Asset Management LLC purchased a new position in RCM Technologies in the second quarter valued at about $77,000. Finally, Bank of America Corp DE boosted its stake in RCM Technologies by 28.1% in the third quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 915 shares during the last quarter. 43.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RCMT shares. Benchmark lifted their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the company 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 report on Friday, June 5th. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reiterated a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Finally, B. Riley Financial boosted their price objective on RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

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.