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 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 of the company’s stock, valued at approximately $3,332,742.92. This trade represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Price Performance

Shares of NASDAQ RCMT traded up $5.38 during midday trading on Monday, hitting $40.43. The company had a trading volume of 466,622 shares, compared to its average volume of 63,216. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. RCM Technologies, Inc. has a twelve month low of $17.26 and a twelve month high of $40.68. The business has a 50-day simple moving average of $27.73 and a two-hundred day simple moving average of $24.56. The firm has a market capitalization of $286.57 million, a price-to-earnings 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 for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $93.82 million for 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 anticipate that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RCMT. Benchmark raised their price target on RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday. 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 reissued a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Finally, 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. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Hedge Funds Weigh In On RCM Technologies

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in shares of RCM Technologies by 209.9% in the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock worth $2,428,000 after acquiring an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in RCM Technologies by 40.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after purchasing an additional 74,760 shares during the last quarter. Geode Capital Management LLC increased its position in RCM Technologies by 78.9% during the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares during the last quarter. Punch & Associates Investment Management Inc. raised its stake in RCM Technologies by 40.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after purchasing an additional 38,872 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of RCM Technologies by 264.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 35,835 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

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.