Insider Selling: RCM Technologies (NASDAQ:RCMT) Chairman Sells $2,903,580.34 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) Chairman Bradley Vizi sold 74,719 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $38.86, for a total transaction of $2,903,580.34. Following the sale, the chairman directly owned 1,402,477 shares in the company, valued at $54,500,256.22. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Bradley Vizi also recently made the following trade(s):

• On Friday, August 14th, Bradley Vizi sold 25,281 shares of RCM Technologies stock. The shares were sold at an average price of $35.02, for a total value of $885,340.62.

RCM Technologies Price Performance

NASDAQ:RCMT opened at $41.03 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s 50-day simple moving average is $29.03 and its 200 day simple moving average is $25.13. The company has a market cap of $291.72 million, a P/E ratio of 17.84 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) last released its earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share (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%. As a group, sell-side analysts forecast that RCM Technologies, Inc. will post 2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on RCMT. B. Riley Financial raised their target price on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Benchmark upped their price target on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd grew its position in RCM Technologies by 5.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock worth $297,000 after acquiring an additional 576 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 purchasing an additional 579 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of RCM Technologies by 28.1% during the third quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 915 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of RCM Technologies by 3.9% during the first quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock valued at $684,000 after purchasing an additional 1,341 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of RCM Technologies by 2.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 69,304 shares of the business services provider’s stock worth $1,417,000 after purchasing an additional 1,674 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors.

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.