Insider Selling: RCM Technologies (NASDAQ:RCMT) CFO Sells $73,713.65 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 1,753 shares of RCM Technologies stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.05, for a total value of $73,713.65. Following the sale, the chief financial officer directly owned 330,863 shares of the company’s stock, valued at $13,912,789.15. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

RCM Technologies Stock Up 2.1%

RCMT 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. The company’s 50 day moving average is $30.86 and its 200 day moving average is $25.98. The stock has a market cap of $297.48 million, a price-to-earnings ratio of 18.19 and a beta of 0.29. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $42.38.

RCM Technologies (NASDAQ:RCMT) last announced 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 business had revenue of $93.82 million during the quarter, compared to analyst estimates of $81.75 million. Sell-side analysts predict that RCM Technologies, Inc. will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RCMT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Benchmark lifted their price objective on RCM Technologies from $36.00 to $45.00 and gave the stock 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 upped their target price on RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a 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 equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $45.00.

Institutional Trading of RCM Technologies

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its position 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 worth $2,428,000 after buying an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted 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 valued at $5,280,000 after purchasing an additional 74,760 shares during the period. Geode Capital Management LLC boosted its holdings in RCM Technologies by 78.9% in 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. grew its position in RCM Technologies by 40.0% in the 4th 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. raised its stake in RCM Technologies by 264.4% during 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 buying an additional 35,835 shares during the last quarter. 43.20% of the stock is owned by institutional investors.

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.