Sei Investments Co. Acquires 85,936 Shares of RCM Technologies, Inc. $RCMT

Sei Investments Co. raised its stake in RCM Technologies, Inc. (NASDAQ:RCMT) by 209.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,872 shares of the business services provider’s stock after acquiring an additional 85,936 shares during the quarter. Sei Investments Co.’s holdings in RCM Technologies were worth $2,428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in RCMT. BNP Paribas Financial Markets grew its stake in shares of RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after acquiring an additional 579 shares during the period. JPMorgan Chase & Co. increased its stake in shares of RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of RCM Technologies in the third quarter valued at approximately $60,000. Lazard Asset Management LLC purchased a new stake in shares of RCM Technologies during the 2nd quarter valued at approximately $77,000. Finally, New York State Common Retirement Fund bought a new position in RCM Technologies in the 2nd quarter worth approximately $101,000. 43.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RCMT has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. Wall Street Zen lowered RCM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research lowered RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

RCM Technologies Stock Performance

NASDAQ:RCMT opened at $29.38 on Friday. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $32.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50 day moving average of $27.07 and a 200 day moving average of $24.18. The company has a market capitalization of $208.30 million, a price-to-earnings ratio of 13.86 and a beta of 0.29.

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.