Kevin Miller Sells 60,000 Shares of RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $37.98, for a total transaction of $2,278,800.00. Following the transaction, the chief financial officer owned 338,362 shares of the company’s stock, valued at approximately $12,850,988.76. This represents a 15.06% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Price Performance

NASDAQ RCMT traded up $0.62 on Tuesday, hitting $41.05. 181,762 shares of the company’s stock were exchanged, compared to its average volume of 63,971. The stock has a 50-day moving average of $28.07 and a 200-day moving average of $24.70. The stock has a market cap of $291.04 million, a price-to-earnings ratio of 17.85 and a beta of 0.29. RCM Technologies, Inc. has a 52 week low of $17.26 and a 52 week high of $42.04. 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 (NASDAQ:RCMT) last issued its quarterly 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 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 analyst estimates of $81.75 million. Analysts expect that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RCMT. Zacks Research downgraded RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. B. Riley Financial raised their price target on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday. Benchmark upped their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in RCM Technologies in the second quarter valued at about $551,000. WNY Asset Management LLC bought a new stake in shares of RCM Technologies during the first quarter worth about $383,000. Punch & Associates Investment Management Inc. increased its stake in shares of RCM Technologies by 12.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock valued at $2,938,000 after buying an additional 17,433 shares during the period. Renaissance Technologies LLC increased its stake in shares of RCM Technologies by 3.6% in the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock valued at $8,324,000 after buying an additional 15,304 shares during the period. Finally, Sei Investments Co. raised its holdings in RCM Technologies by 209.9% in the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after buying an additional 85,936 shares during the last quarter. Institutional investors and hedge funds own 43.20% of the company’s stock.

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.