Kevin Miller Sells 1,753 Shares of RCM Technologies (NASDAQ:RCMT) Stock

Key Points

• RCM Technologies CFO Kevin Miller sold 1,753 shares at an average price of $42.05, generating $73,713.65. He continues to directly own 330,863 shares valued at approximately $13.9 million.
• RCMT shares rose to $40.97, near their 12-month high of $42.26, after the company reported quarterly EPS of $0.82 and revenue of $93.82 million—both above analyst expectations.
• Analyst sentiment is broadly positive: RCM Technologies has a consensus “Buy” rating and a $45 target price, while institutional investors own 43.2% of the stock.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) CFO Kevin Miller sold 1,753 shares of RCM Technologies stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.05, for a total value of $73,713.65. Following the completion of the sale, the chief financial officer directly owned 330,863 shares in the company, valued at $13,912,789.15. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RCM Technologies Price Performance

Shares of RCMT traded up $0.38 during trading hours on Thursday, hitting $40.97. 93,610 shares of the stock were exchanged, compared to its average volume of 64,402. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92. RCM Technologies, Inc. has a 12-month low of $17.26 and a 12-month high of $42.26. The company has a market cap of $291.30 million, a price-to-earnings ratio of 17.81 and a beta of 0.29. The stock's 50-day moving average price is $30.26 and its two-hundred day moving average price is $25.72.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.20. The company 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%. Research analysts expect that RCM Technologies, Inc. will post 2.6 earnings per share for the current year.

Institutional Trading of RCM Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. raised its stake in shares of RCM Technologies by 209.9% in the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider's stock valued at $2,428,000 after acquiring an additional 85,936 shares during the period. Punch & Associates Investment Management Inc. boosted its position in shares of RCM Technologies by 40.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider's stock worth $2,782,000 after purchasing an additional 38,872 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in RCM Technologies by 40.7% in the 4th 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. Meros Investment Management LP raised its position in RCM Technologies by 69.0% in the fourth quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider's stock valued at $1,348,000 after purchasing an additional 26,924 shares during the period. Finally, WNY Asset Management LLC purchased a new stake in RCM Technologies in the first quarter valued at approximately $383,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RCMT has been the topic of a number of research reports. Zacks Research raised shares of RCM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday. Wall Street Zen upgraded RCM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 16th. B. Riley Financial lifted their price objective on RCM Technologies from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Benchmark upped their target price on RCM Technologies from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of RCM Technologies in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, RCM Technologies currently has an average rating of "Buy" and a consensus 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.

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