RCM Technologies, Inc. (NASDAQ:RCMT – Get Free Report) insider Michael Saks sold 11,792 shares of RCM Technologies stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $33.56, for a total value of $395,739.52. Following the transaction, the insider owned 99,307 shares in the company, valued at approximately $3,332,742.92. The trade was a 10.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RCM Technologies Stock Down 2.2%
Shares of NASDAQ:RCMT opened at $40.16 on Thursday. 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 business has a fifty day moving average of $28.71 and a two-hundred day moving average of $24.99. The stock has a market cap of $285.54 million, a P/E ratio of 17.46 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.
RCM Technologies (NASDAQ:RCMT – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%. On average, research analysts expect that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.
Key Headlines Impacting RCM Technologies
- 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 Investors Weigh In On RCM Technologies
A number of institutional investors have recently made changes to their positions in RCMT. Jane Street Group LLC lifted its holdings in shares of RCM Technologies by 41.2% in the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock worth $366,000 after acquiring an additional 6,852 shares during the last quarter. Geode Capital Management LLC increased its holdings in RCM Technologies by 78.9% in the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock valued at $2,838,000 after purchasing an additional 53,094 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 2,147 shares during the last quarter. Russell Investments Group Ltd. raised its position in RCM Technologies by 264.4% in the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 35,835 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in RCM Technologies in the second quarter valued at approximately $101,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on RCMT shares. Benchmark boosted their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday. B. Riley Financial lifted their price target on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, RCM Technologies has an average rating of “Moderate Buy” and an average price target of $45.00.
Get Our Latest Stock Analysis on RCM Technologies
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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