RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) CFO Kevin Miller sold 4,413 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was 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 of the company's stock, valued at $14,025,858. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RCM Technologies Stock Performance
RCMT opened at $41.05 on Wednesday. The firm's fifty day simple moving average is $28.40 and its two-hundred day simple moving average is $24.85. RCM Technologies, Inc. has a 52-week low of $17.26 and a 52-week high of $42.04. The company 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 (NASDAQ:RCMT - Get Free Report) last released its earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The business had revenue of $93.82 million during the quarter, compared to analysts' expectations of $81.75 million. Equities analysts anticipate that RCM Technologies, Inc. will post 2.23 earnings per share for the current fiscal year.
Analysts Set New Price Targets
RCMT has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of RCM Technologies in a report on Friday, July 17th. Wall Street Zen upgraded RCM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Sunday. 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 research note on Monday. Zacks Research lowered RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Finally, 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. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RCM Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $45.00.
Read Our Latest Analysis on RCM Technologies
Key Headlines Impacting RCM Technologies
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 Trading of RCM Technologies
A number of hedge funds have recently bought and sold shares of RCMT. Jane Street Group LLC boosted its holdings in shares of RCM Technologies by 41.2% during the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider's stock worth $366,000 after purchasing an additional 6,852 shares during the last quarter. 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 valued at $2,838,000 after purchasing an additional 53,094 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 valued at $55,000 after purchasing an additional 2,147 shares during the last quarter. Russell Investments Group Ltd. lifted its position in RCM Technologies by 264.4% during 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 purchased a new position in RCM Technologies during the second quarter worth approximately $101,000. Institutional investors and hedge funds 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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