Raymond James Financial Services Advisors Inc. Buys New Shares in RCM Technologies, Inc. (NASDAQ:RCMT)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 8,593 shares of the business services provider’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RCMT. Stokes Family Office LLC lifted its position in RCM Technologies by 13.7% in the 3rd quarter. Stokes Family Office LLC now owns 12,608 shares of the business services provider’s stock worth $246,000 after buying an additional 1,517 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of RCM Technologies by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 31,712 shares of the business services provider’s stock valued at $620,000 after buying an additional 2,419 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of RCM Technologies by 16.4% in the third quarter. Janney Montgomery Scott LLC now owns 26,058 shares of the business services provider’s stock worth $509,000 after buying an additional 3,667 shares during the period. Ritholtz Wealth Management lifted its stake in shares of RCM Technologies by 21.9% in the 3rd quarter. Ritholtz Wealth Management now owns 26,417 shares of the business services provider’s stock valued at $516,000 after acquiring an additional 4,738 shares during the last quarter. Finally, Barclays PLC purchased a new stake in RCM Technologies during the 3rd quarter valued at about $99,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

RCM Technologies Stock Performance

RCM Technologies stock opened at $19.04 on Wednesday. RCM Technologies, Inc. has a 1-year low of $11.14 and a 1-year high of $32.15. The firm has a market cap of $151.18 million, a P/E ratio of 9.57 and a beta of 0.73. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average of $23.87 and a 200-day moving average of $25.12.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings data on Wednesday, March 13th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $71.03 million during the quarter, compared to analysts’ expectations of $72.47 million. RCM Technologies had a return on equity of 71.41% and a net margin of 6.39%. Sell-side analysts expect that RCM Technologies, Inc. will post 2.12 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a report on Friday, April 12th.

RCM Technologies Company Profile

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.