Michael Saks Sells 10,000 Shares of RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $41.07, for a total transaction of $410,700.00. Following the sale, the insider owned 89,307 shares of the company’s stock, valued at $3,667,838.49. This trade represents a 10.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Michael Saks also recently made the following trade(s):

• 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 Price Performance

RCMT opened at $40.86 on Friday. 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 company has a market capitalization of $290.51 million, a price-to-earnings ratio of 17.77 and a beta of 0.29. The firm’s fifty day moving average price is $29.34 and its two-hundred day moving average price is $25.24. RCM Technologies, Inc. has a 1 year low of $17.26 and a 1 year high of $42.04.

RCM Technologies (NASDAQ:RCMT) last released 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 during the quarter, compared to analyst estimates of $81.75 million. As a group, analysts anticipate that RCM Technologies, Inc. will post 2.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RCM Technologies

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its position in shares of RCM Technologies by 209.9% during the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after buying an additional 85,936 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its position in RCM Technologies by 40.7% in 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 in the last quarter. Geode Capital Management LLC increased its stake in RCM Technologies by 78.9% in the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock valued at $2,838,000 after acquiring an additional 53,094 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in RCM Technologies by 40.0% in the fourth 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. Finally, Russell Investments Group Ltd. raised its position in RCM Technologies by 264.4% during the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 35,835 shares in the last quarter. Institutional investors own 43.20% of the company’s stock.

Analyst Upgrades and Downgrades

RCMT has been the topic of a number of analyst reports. Zacks Research lowered RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Benchmark raised their target price on RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, B. Riley Financial increased their price target on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.