Kevin Miller Sells 1,333 Shares of RCM Technologies (NASDAQ:RCMT) Stock

Key Points

• CFO Kevin Miller sold 1,333 RCM Technologies shares at an average price of $42, generating $55,986; he continues to own 332,616 shares valued at approximately $13.97 million.
• RCMT recently reported strong quarterly results, with earnings per share of $0.82 versus the $0.62 consensus estimate and revenue of $93.82 million, ahead of the $81.75 million forecast.
• Analyst sentiment is broadly positive: the stock carries a consensus “Buy” rating and a $45 price target, while institutional investors own 43.2% of the company.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) CFO Kevin Miller sold 1,333 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $42.00, for a total value of $55,986.00. Following the sale, the chief financial officer directly owned 332,616 shares of the company's stock, valued at approximately $13,969,872. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

RCM Technologies Price Performance

Shares of NASDAQ RCMT traded up $0.38 during mid-day trading on Thursday, reaching $40.97. The company had a trading volume of 93,610 shares, compared to its average volume of 64,402. 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 stock has a market cap of $291.30 million, a PE ratio of 17.81 and a beta of 0.29. The company has a 50-day moving average price of $30.26 and a two-hundred day moving average price of $25.72. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $42.26.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced its earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, beating 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 business had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. On average, equities analysts anticipate that RCM Technologies, Inc. will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on RCMT. Wall Street Zen upgraded shares of RCM Technologies from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 16th. Weiss Ratings restated a "hold (c+)" rating on shares of RCM Technologies in a report on Friday, July 17th. Zacks Research upgraded shares of RCM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday. Benchmark raised their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Finally, B. Riley Financial boosted 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, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $45.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings 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 buying an additional 6,852 shares during the period. Geode Capital Management LLC grew its stake in RCM Technologies by 78.9% in the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider's stock valued at $2,838,000 after buying an additional 53,094 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 2,147 shares during the period. Russell Investments Group Ltd. raised its holdings in RCM Technologies by 264.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider's stock worth $1,164,000 after acquiring an additional 35,835 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in RCM Technologies during the 2nd quarter worth $101,000. Institutional investors and hedge funds own 43.20% of the company's stock.

RCM Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source