RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) insider Michael Saks sold 11,792 shares of the firm's stock in a transaction 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 completion of the sale, the insider directly owned 99,307 shares of the company's stock, valued at $3,332,742.92. This represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RCM Technologies Stock Performance
Shares of RCMT opened at $40.43 on Tuesday. RCM Technologies, Inc. has a 1 year low of $17.26 and a 1 year high of $40.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92. The stock's fifty day moving average price is $28.07 and its two-hundred day moving average price is $24.70. The firm has a market cap of $286.65 million, a PE ratio of 17.58 and a beta of 0.29.
RCM Technologies (NASDAQ:RCMT - Get Free Report) last posted its quarterly 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 return on equity of 37.92% and a net margin of 5.13%.The company had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. On average, equities research analysts forecast that RCM Technologies, Inc. will post 2.23 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on RCMT. Benchmark lifted their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday. Wall Street Zen upgraded shares of RCM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Sunday. B. Riley Financial raised their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Zacks Research lowered shares of RCM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of RCM Technologies in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, RCM Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.
Read Our Latest Research Report on RCM Technologies
Institutional Trading of RCM Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in 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 valued at $366,000 after purchasing an additional 6,852 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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 period. JPMorgan Chase & Co. raised its position in shares of RCM Technologies by 1,241.0% in 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. Russell Investments Group Ltd. raised its position in shares of 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 worth $1,164,000 after buying an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in RCM Technologies during the second quarter valued at $101,000. Institutional investors own 43.20% of the company's stock.
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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