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

Key Points

• Insider selling: Michael Saks sold 706 RCM Technologies shares for $29,030.72, following sales of 21,792 shares earlier in August. He continues to own 88,601 shares.
• Strong performance: RCM Technologies shares rose 2.3% to $42.06, near their 52-week high, after the company reported quarterly EPS of $0.82 and revenue of $93.82 million—both above analyst expectations.
• Analyst sentiment remains positive: Benchmark and B. Riley raised their price targets to $45 and maintained buy ratings, while the stock carries a consensus “Moderate Buy” rating and a $45 target price.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) insider Michael Saks sold 706 shares of RCM Technologies stock in a transaction on Friday, August 21st. The stock was sold at an average price of $41.12, for a total transaction of $29,030.72. Following the completion of the transaction, the insider directly owned 88,601 shares in the company, valued at $3,643,273.12. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 value 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 value of $395,739.52.

RCM Technologies Stock Up 2.3%

Shares of RCM Technologies stock traded up $0.94 during trading on Tuesday, reaching $42.06. The company's stock had a trading volume of 58,477 shares, compared to its average volume of 64,228. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The company has a market cap of $299.05 million, a price-to-earnings ratio of 18.29 and a beta of 0.29. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $42.07. The company has a 50-day simple moving average of $29.64 and a two-hundred day simple moving average of $25.42.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced its earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share (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 company had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. As a group, equities analysts forecast that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Institutional Investors Weigh In On RCM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of RCMT. Sei Investments Co. raised its position in RCM Technologies by 209.9% during the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider's stock worth $2,428,000 after buying an additional 85,936 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of RCM Technologies by 40.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider's stock valued at $2,782,000 after acquiring an additional 38,872 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of 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 acquiring an additional 74,760 shares during the last quarter. Meros Investment Management LP increased its stake in shares of 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 worth $1,348,000 after acquiring an additional 26,924 shares during the period. Finally, WNY Asset Management LLC acquired a new stake in shares of RCM Technologies in the first quarter worth $383,000. Institutional investors and hedge funds own 43.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RCMT. Zacks Research lowered shares of RCM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Benchmark raised their price target on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, August 17th. 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. B. Riley Financial boosted their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, August 17th. 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $45.00.

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.

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