RCM Technologies (NASDAQ:RCMT) CFO Kevin Miller Sells 4,413 Shares

RCM Technologies, Inc. (NASDAQ:RCMTGet Free Report) CFO Kevin Miller sold 4,413 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $42.00, for a total transaction of $185,346.00. Following the transaction, the chief financial officer owned 333,949 shares in the company, valued at approximately $14,025,858. This trade represents a 1.30% decrease in their position. The transaction 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 RCM Technologies stock traded up $0.62 during midday trading on Tuesday, hitting $41.05. The company had a trading volume of 181,762 shares, compared to its average volume of 63,971. The company has a fifty day simple moving average of $28.07 and a 200 day simple 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. 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 12-month low of $17.26 and a 12-month high of $42.04.

RCM Technologies (NASDAQ:RCMTGet Free Report) last released 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. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The company had revenue of $93.82 million for the quarter, compared to the consensus estimate of $81.75 million. As a group, analysts predict that RCM Technologies, Inc. will post 2.23 earnings per share for the current fiscal year.

Key RCM Technologies News

Here are the key news stories impacting RCM Technologies this week:

  • Positive Sentiment: Benchmark raised its price target to $45 from $36 and maintained a “buy” rating. B. Riley also increased its target to $45 and reiterated a buy rating. The $45 target is now the consensus target, implying additional potential upside from recent levels.
  • Positive Sentiment: RCMT’s latest quarterly results were stronger than expected, with earnings per share of $0.82 versus the $0.62 consensus estimate and revenue of $93.82 million compared with expectations of $81.75 million. The company’s 37.9% return on equity and projected full-year EPS of $2.23 add support to the bullish analyst outlook.
  • Neutral Sentiment: Institutional ownership stands at 43.2%, with Geode Capital, Russell Investments, Jane Street and JPMorgan among investors that recently increased their positions. This suggests growing institutional interest, although the purchases were reported for prior quarters rather than the current session.
  • Negative Sentiment: Insiders disclosed approximately $7.7 million in stock sales from August 14–18. CFO Kevin D. Miller sold 94,413 shares, Chairman Bradley Vizi sold 100,000 shares, and insider Michael Saks sold 11,792 shares. The transactions reduced their holdings by roughly 1.3% to 15.1%.
  • Negative Sentiment: The insider sales occurred as RCMT advanced sharply from its 52-week low and approached its 52-week high, which could signal profit-taking and may weigh on investor sentiment. However, the CFO’s transactions were executed under a pre-arranged Rule 10b5-1 plan, making them less clearly indicative of a change in management’s outlook. SEC insider transaction filing

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings 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 acquiring an additional 579 shares during the period. JPMorgan Chase & Co. grew its stake in shares of RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of RCM Technologies during the 3rd quarter worth approximately $60,000. Lazard Asset Management LLC purchased a new position in shares of RCM Technologies during the 2nd quarter valued at approximately $77,000. Finally, New York State Common Retirement Fund purchased a new position in shares of RCM Technologies during the 2nd quarter valued at approximately $101,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Zacks Research downgraded RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Benchmark boosted their price target on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. B. Riley Financial increased their price objective on RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Finally, Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday. Two 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.com, RCM Technologies has an average rating of “Moderate Buy” and an average target price of $45.00.

Read Our Latest Research Report on RCM Technologies

About RCM Technologies

(Get Free Report)

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.

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