Wall Street Zen Downgrades RCM Technologies (NASDAQ:RCMT) to Hold

RCM Technologies (NASDAQ:RCMT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

RCMT has been the subject of several other reports. Benchmark increased their price target on RCM Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Finally, Zacks Research raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.00.

RCM Technologies Price Performance

Shares of NASDAQ RCMT opened at $23.78 on Friday. 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 stock has a fifty day moving average price of $25.90 and a 200 day moving average price of $21.86. RCM Technologies has a 1-year low of $17.26 and a 1-year high of $32.50. The company has a market cap of $168.60 million, a PE ratio of 11.22 and a beta of 0.34.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Friday, April 3rd. The business services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. RCM Technologies had a return on equity of 37.76% and a net margin of 5.03%.The firm had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.46 million. Sell-side analysts forecast that RCM Technologies will post 2.23 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kevin D. Miller sold 4,734 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $32.00, for a total value of $151,488.00. Following the completion of the transaction, the chief financial officer owned 439,066 shares in the company, valued at $14,050,112. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 8,237 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $27.52, for a total value of $226,682.24. Following the completion of the transaction, the chairman owned 1,489,240 shares of the company’s stock, valued at approximately $40,983,884.80. This represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 36,437 shares of company stock valued at $1,068,434. 28.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd increased its position in shares of RCM Technologies by 5.4% in the third quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock valued at $297,000 after buying an additional 576 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of RCM Technologies by 44.1% in the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after buying an additional 579 shares in the last quarter. Bank of America Corp DE increased its position in shares of RCM Technologies by 28.1% in the third quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after buying an additional 915 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of RCM Technologies by 3.2% in the fourth quarter. Ritholtz Wealth Management now owns 42,724 shares of the business services provider’s stock valued at $873,000 after buying an additional 1,333 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of RCM Technologies by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock valued at $684,000 after buying an additional 1,341 shares in the last quarter. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.