Insider Selling: RCM Technologies (NASDAQ:RCMT) CFO Sells $1,020,600.00 in Stock

Key Points

• RCM Technologies CFO Kevin Miller sold 30,000 shares for approximately $1.02 million at an average price of $34.02 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 7%.
• RCMT reported quarterly EPS of $0.82, beating estimates of $0.62, while revenue of $93.82 million exceeded expectations of $81.75 million.
• The stock recently traded near its 52-week high, and analysts maintain a “Moderate Buy” consensus with a $45 price target; institutional investors own 43.2% of shares.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) CFO Kevin Miller sold 30,000 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $34.02, for a total transaction of $1,020,600.00. Following the transaction, the chief financial officer owned 398,362 shares in the company, valued at approximately $13,552,275.24. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Stock Performance

NASDAQ RCMT traded up $0.62 on Tuesday, hitting $41.05. 181,762 shares of the stock were exchanged, compared to its average volume of 63,971. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92. The business's fifty day moving average is $28.07 and its 200 day moving average is $24.70. RCM Technologies, Inc. has a 52 week low of $17.26 and a 52 week high of $42.04. The company has a market capitalization of $291.04 million, a PE ratio of 17.85 and a beta of 0.29.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The firm had revenue of $93.82 million during the quarter, compared to analysts' expectations of $81.75 million. Research analysts anticipate that RCM Technologies, Inc. will post 2.23 EPS for the current fiscal year.

Institutional Trading of RCM Technologies

A number of hedge funds have recently modified their holdings of RCMT. Sei Investments Co. raised its holdings in 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. lifted its position in RCM Technologies by 40.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider's stock worth $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% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider's stock worth $5,280,000 after acquiring an additional 74,760 shares during the period. Meros Investment Management LP boosted its holdings in shares of RCM Technologies by 69.0% during 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 position in shares of RCM Technologies in the first quarter valued at approximately $383,000. Institutional investors and hedge funds own 43.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on RCMT. Zacks Research cut RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. B. Riley Financial upped 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of RCM Technologies in a research report on Friday, July 17th. Wall Street Zen upgraded RCM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Sunday. Finally, Benchmark boosted their target price on RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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