Insider Selling: RCM Technologies (NASDAQ:RCMT) Insider Sells $410,700.00 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $41.07, for a total transaction of $410,700.00. Following the transaction, the insider directly owned 89,307 shares of the company’s stock, valued at approximately $3,667,838.49. This trade represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Michael Saks also recently made the following trade(s):

• On Friday, August 14th, Michael Saks sold 11,792 shares of RCM Technologies stock. The shares were sold at an average price of $33.56, for a total value of $395,739.52.

RCM Technologies Price Performance

RCM Technologies stock traded up $0.87 during mid-day trading on Thursday, hitting $41.03. 79,023 shares of the company were exchanged, compared to its average volume of 64,206. RCM Technologies, Inc. has a 12-month low of $17.26 and a 12-month high of $42.04. The company has a market capitalization of $291.76 million, a P/E ratio of 17.84 and a beta of 0.29. The business’s 50 day simple moving average is $28.71 and its two-hundred day simple moving average is $24.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RCMT shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Benchmark upped their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. B. Riley Financial raised their target price on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research cut shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday. Two equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of 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 acquiring an additional 579 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in RCM Technologies during the third quarter worth approximately $60,000. Lazard Asset Management LLC acquired a new position in RCM Technologies during the second quarter worth approximately $77,000. Finally, New York State Common Retirement Fund purchased a new position in RCM Technologies during the second quarter worth approximately $101,000. Institutional investors and hedge funds 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.