Kevin Miller Sells 1,333 Shares of RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 1,333 shares of RCM Technologies stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $42.00, for a total value of $55,986.00. Following the completion of the sale, the chief financial officer owned 332,616 shares of the company’s stock, valued at approximately $13,969,872. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

RCM Technologies Stock Performance

RCM Technologies stock opened at $41.84 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48. RCM Technologies, Inc. has a 1 year low of $17.26 and a 1 year high of $42.38. The company has a market cap of $297.48 million, a PE ratio of 18.19 and a beta of 0.29. The company’s 50-day moving average is $30.86 and its two-hundred day moving average is $25.98.

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, beating the consensus estimate of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The company had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. Equities analysts anticipate that RCM Technologies, Inc. will post 2.6 earnings per share for the current 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. Jane Street Group LLC increased its position in shares of RCM Technologies by 41.2% in the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock valued at $366,000 after buying an additional 6,852 shares in the last quarter. Geode Capital Management LLC raised its stake in RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after buying an additional 53,094 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 acquiring an additional 2,147 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in RCM Technologies by 264.4% during the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after acquiring an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in RCM Technologies during the second quarter worth about $101,000. 43.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Benchmark upped their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Wall Street Zen raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. B. Riley Financial boosted their target price on RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Zacks Research raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, RCM Technologies has a consensus rating of “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.