RCM Technologies (NASDAQ:RCMT) Insider Michael Saks Sells 706 Shares of Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 706 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $41.12, for a total transaction of $29,030.72. Following the sale, the insider directly owned 88,601 shares of the company’s stock, valued at $3,643,273.12. The trade was a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Saks also recently made the following trade(s):

• On Tuesday, August 18th, Michael Saks sold 10,000 shares of RCM Technologies stock. The stock was sold at an average price of $41.07, for a total transaction of $410,700.00.
• On Friday, August 14th, Michael Saks sold 11,792 shares of RCM Technologies stock. The shares were sold at an average price of $33.56, for a total transaction of $395,739.52.

RCM Technologies Stock Up 2.1%

Shares of RCMT stock opened at $42.00 on Wednesday. RCM Technologies, Inc. has a 12 month low of $17.26 and a 12 month high of $42.07. The stock has a market cap of $298.62 million, a P/E ratio of 18.26 and a beta of 0.29. 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 company has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $25.57.

RCM Technologies (NASDAQ:RCMT) last issued 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 net margin of 5.13% and a return on equity of 37.92%. The business had revenue of $93.82 million for the quarter, compared to analysts’ expectations of $81.75 million. On average, research analysts expect that RCM Technologies, Inc. will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds have recently made changes to their positions in RCMT. California State Teachers Retirement System grew its position in shares of RCM Technologies by 570.9% during the second quarter. California State Teachers Retirement System now owns 1,778 shares of the business services provider’s stock worth $50,000 after purchasing an additional 1,513 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings 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 worth $45,000 after purchasing an additional 579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in RCM Technologies in the 3rd quarter worth approximately $60,000. JPMorgan Chase & Co. boosted its stake 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 worth $55,000 after purchasing an additional 2,147 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in RCM Technologies during the 2nd quarter valued at approximately $77,000. Institutional investors own 43.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark boosted their price target on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Wall Street Zen raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. B. Riley Financial boosted 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, August 17th. Finally, Zacks Research lowered shares of 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

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.