Ritholtz Wealth Management Grows Position in RCM Technologies, Inc. $RCMT

Ritholtz Wealth Management lifted its position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) by 189.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 41,391 shares of the business services provider’s stock after purchasing an additional 27,091 shares during the quarter. Ritholtz Wealth Management owned about 0.56% of RCM Technologies worth $1,099,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RCMT. BNP Paribas Financial Markets lifted its position in RCM Technologies by 44.1% during 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. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of RCM Technologies by 4.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,518 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 676 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in RCM Technologies during the 2nd quarter worth $29,000. Ballast Asset Management LP increased its holdings in RCM Technologies by 1.0% in the 2nd quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider’s stock valued at $3,265,000 after purchasing an additional 1,346 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in 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 valued at $55,000 after purchasing an additional 2,147 shares during the period. Institutional investors and hedge funds own 43.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on RCMT shares. Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a research note on Monday, December 29th. Zacks Research upgraded RCM Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

RCM Technologies Stock Performance

Shares of RCMT opened at $20.16 on Tuesday. The firm has a market cap of $149.39 million, a price-to-earnings ratio of 11.79 and a beta of -0.07. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $20.04 and its two-hundred day moving average is $23.21. RCM Technologies, Inc. has a 52-week low of $13.18 and a 52-week high of $28.27.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The company had revenue of $70.29 million during the quarter, compared to the consensus estimate of $67.34 million. RCM Technologies had a return on equity of 35.58% and a net margin of 4.23%.

RCM Technologies 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.