Kevin Miller Sells 30,000 Shares of RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 30,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $34.02, for a total value of $1,020,600.00. Following the completion of the transaction, the chief financial officer directly owned 398,362 shares in the company, valued at approximately $13,552,275.24. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Stock Performance

Shares of RCMT traded up $0.62 during midday trading on Tuesday, reaching $41.05. 181,762 shares of the stock were exchanged, compared to its average volume of 63,971. The stock’s 50 day simple moving average is $28.07 and its 200 day simple moving average is $24.70. The company has a market cap of $291.04 million, a P/E ratio of 17.85 and a beta of 0.29. RCM Technologies, Inc. has a twelve month low of $17.26 and a twelve month high of $42.04. 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 (NASDAQ:RCMT) last released its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 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 business had revenue of $93.82 million for the quarter, compared to the consensus estimate of $81.75 million. On average, sell-side analysts expect that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake 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 valued at $45,000 after purchasing an additional 579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in RCM Technologies during the third quarter worth about $60,000. JPMorgan Chase & Co. increased its holdings 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 valued at $55,000 after buying an additional 2,147 shares during the period. Lazard Asset Management LLC bought a new position in RCM Technologies in the 2nd quarter valued at about $77,000. Finally, Bank of America Corp DE raised its position in shares of RCM Technologies by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after buying an additional 915 shares in the last quarter. 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.