RCM Technologies, Inc. (NASDAQ:RCMT – Get Free Report) CFO Kevin Miller sold 60,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 338,362 shares of the company’s stock, valued at approximately $12,850,988.76. The trade was a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RCM Technologies Stock Performance
NASDAQ RCMT opened at $40.16 on Thursday. 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 business’s 50 day moving average is $28.71 and its two-hundred day moving average is $24.99. RCM Technologies, Inc. has a 12-month low of $17.26 and a 12-month high of $42.04. The stock has a market capitalization of $285.54 million, a price-to-earnings ratio of 17.46 and a beta of 0.29.
RCM Technologies (NASDAQ:RCMT – Get Free Report) last issued its earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%. Research analysts expect that RCM Technologies, Inc. will post 2.23 EPS for the current year.
Key RCM Technologies News
- Positive Sentiment: Benchmark raised its price target for RCMT to $45 from $36 and maintained a “buy” rating. B. Riley Financial also lifted its target to $45 and reiterated a buy rating. The $45 consensus target suggests further upside from recent trading levels. Benchmark price target article
- Positive Sentiment: RCM Technologies reported a quarterly EPS of $0.82, exceeding the $0.62 analyst consensus, while revenue of $93.82 million surpassed expectations of $81.75 million. The earnings beat, 37.9% return on equity and projected full-year EPS of $2.23 provide fundamental support for the positive analyst outlook.
- Neutral Sentiment: Wall Street Zen upgraded the stock to “strong buy,” although other ratings remain mixed. Two analysts rate RCMT a buy and two rate it a hold, resulting in a “Moderate Buy” consensus.
- Neutral Sentiment: Institutional ownership is approximately 43.2%. Geode Capital, Russell Investments, Jane Street and JPMorgan recently increased their positions, but these holdings were reported for prior quarters and may not reflect current trading activity.
- Negative Sentiment: Company insiders disclosed roughly $7.7 million in stock sales from August 14–18. CFO Kevin Miller sold 94,413 shares, Chairman Bradley Vizi sold 100,000 shares, and insider Michael Saks sold 11,792 shares, reducing their respective positions by approximately 1.3% to 15.1%.
- Negative Sentiment: The sales occurred as RCMT approached its 52-week high, potentially signaling profit-taking and weighing on sentiment. However, Miller’s transactions were conducted under pre-arranged Rule 10b5-1 plans, making them less conclusive evidence of a deteriorating management outlook. SEC insider transaction filing
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in RCM Technologies by 44.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after buying an additional 579 shares in the last quarter. JPMorgan Chase & Co. increased its position in RCM Technologies by 1,241.0% during the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after buying an additional 2,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in RCM Technologies during the third quarter worth $60,000. Lazard Asset Management LLC acquired a new position in shares of RCM Technologies in the second quarter worth $77,000. Finally, New York State Common Retirement Fund acquired a new position in shares of RCM Technologies in the second quarter worth $101,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
RCMT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday. Benchmark upped their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley Financial increased their target price on shares of RCM Technologies from $40.00 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 research note on Friday, July 17th. Finally, Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, RCM Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.
Get Our Latest Stock Analysis on RCMT
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.
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