RCM Technologies (NASDAQ:RCMT) Insider Sells $29,030.72 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 706 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $41.12, for a total transaction of $29,030.72. Following the sale, the insider directly owned 88,601 shares of the company’s stock, valued at approximately $3,643,273.12. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Michael Saks also recently made the following trade(s):

• On Tuesday, August 18th, Michael Saks sold 10,000 shares of RCM Technologies stock. The shares were sold at an average price of $41.07, for a total transaction of $410,700.00.
• On Friday, August 14th, Michael Saks sold 11,792 shares of RCM Technologies stock. The stock was sold at an average price of $33.56, for a total transaction of $395,739.52.

RCM Technologies Trading Up 0.9%

NASDAQ RCMT opened at $40.97 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The firm has a market cap of $291.30 million, a PE ratio of 17.81 and a beta of 0.29. The company has a 50 day moving average price of $30.55 and a 200 day moving average price of $25.87. RCM Technologies, Inc. has a 52 week low of $17.26 and a 52 week high of $42.26.

RCM Technologies (NASDAQ:RCMT) last posted its earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $93.82 million during the quarter, compared to analysts’ expectations of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. As a group, sell-side analysts forecast that RCM Technologies, Inc. will post 2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On RCM Technologies

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in RCM Technologies by 3.6% in the 1st quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock worth $8,324,000 after acquiring an additional 15,304 shares during the last quarter. Vanguard Group Inc. grew its stake in RCM Technologies by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider’s stock valued at $7,431,000 after purchasing an additional 8,532 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in RCM Technologies by 40.7% during the 4th 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 last quarter. Dimensional Fund Advisors LP grew its stake in RCM Technologies by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock valued at $3,253,000 after purchasing an additional 1,774 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its holdings 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 purchasing an additional 17,433 shares during the period. 43.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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