Kevin Miller Sells 4,413 Shares of RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 4,413 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $42.00, for a total value of $185,346.00. Following the completion of the sale, the chief financial officer owned 333,949 shares of the company’s stock, valued at $14,025,858. The trade was a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Price Performance

NASDAQ:RCMT opened at $40.16 on Thursday. The business’s 50-day simple moving average is $28.71 and its two-hundred day simple moving average is $24.99. RCM Technologies, Inc. has a 52 week low of $17.26 and a 52 week high of $42.04. The stock has a market cap of $285.54 million, a PE ratio of 17.46 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) last released its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $93.82 million during 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, analysts forecast that RCM Technologies, Inc. will post 2.23 EPS for the current fiscal year.

Institutional Trading of RCM Technologies

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in RCM Technologies by 3.6% in the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock worth $8,324,000 after purchasing an additional 15,304 shares during the last quarter. Vanguard Group Inc. lifted its position in RCM Technologies by 3.1% during the third quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider’s stock valued at $7,431,000 after purchasing an additional 8,532 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in RCM Technologies by 40.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock valued at $5,280,000 after purchasing an additional 74,760 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RCM Technologies by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock worth $3,253,000 after buying an additional 1,774 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its holdings in shares of RCM Technologies by 12.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock worth $2,938,000 after buying an additional 17,433 shares during the last quarter. 43.20% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting RCM Technologies

Here are the key news stories impacting RCM Technologies this week:

• 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

Analyst Ratings Changes

RCMT has been the topic of several research analyst reports. B. Riley Financial boosted their target price on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday. Zacks Research downgraded shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Finally, Benchmark increased their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.