RCM Technologies (NASDAQ:RCMT) Insider Michael Saks Sells 11,792 Shares

Key Points

• Insider sale: Michael Saks sold 11,792 RCM Technologies shares for approximately $395,740 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 10.61% to 99,307 shares.
• Strong quarterly results: RCM Technologies reported quarterly EPS of $0.82, beating estimates of $0.62, while revenue of $93.82 million exceeded the $81.75 million consensus forecast.
• Positive market sentiment: The stock rose to $40.43 and analysts Benchmark and B. Riley raised their price targets to $45, giving the company an overall “Moderate Buy” rating with an average target of $45.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) insider Michael Saks sold 11,792 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $33.56, for a total value of $395,739.52. Following the completion of the sale, the insider directly owned 99,307 shares of the company's stock, valued at $3,332,742.92. The trade was a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Stock Performance

Shares of RCMT traded up $5.38 during mid-day trading on Monday, reaching $40.43. 466,622 shares of the company's stock were exchanged, compared to its average volume of 63,216. The business's fifty day simple moving average is $27.73 and its 200-day simple moving average is $24.56. The stock has a market capitalization of $286.57 million, a PE ratio of 17.58 and a beta of 0.29. RCM Technologies, Inc. has a 52-week low of $17.26 and a 52-week high of $40.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last released its quarterly 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. The firm had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. On average, equities research analysts expect that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

RCMT has been the subject of a number of research reports. Benchmark upped their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday. B. Riley Financial raised their price target on RCM Technologies from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings restated a "hold (c+)" rating on shares of RCM Technologies in a research report on Friday, July 17th. Wall Street Zen raised RCM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Sunday. Finally, Zacks Research cut RCM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $45.00.

Hedge Funds Weigh In On RCM Technologies

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of RCM Technologies in the 2nd quarter worth $551,000. WNY Asset Management LLC acquired a new position in shares of RCM Technologies during the first quarter worth about $383,000. Punch & Associates Investment Management Inc. increased its stake in shares of RCM Technologies by 12.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider's stock worth $2,938,000 after acquiring an additional 17,433 shares during the period. Renaissance Technologies LLC raised its holdings in RCM Technologies by 3.6% during 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 in the last quarter. Finally, Sei Investments Co. raised its holdings in RCM Technologies by 209.9% during the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider's stock worth $2,428,000 after purchasing an additional 85,936 shares in the last quarter. Hedge funds and other institutional investors 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.

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