JPMorgan Chase & Co. Grows Holdings in RCM Technologies, Inc. (NASDAQ:RCMT)

JPMorgan Chase & Co. lifted its position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,539 shares of the business services provider’s stock after buying an additional 1,639 shares during the quarter. JPMorgan Chase & Co.’s holdings in RCM Technologies were worth $234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RCMT. Marshall Wace LLP boosted its holdings in RCM Technologies by 174.0% in the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after acquiring an additional 24,380 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of RCM Technologies by 2.2% in the 3rd quarter. Truvestments Capital LLC now owns 35,148 shares of the business services provider’s stock valued at $713,000 after purchasing an additional 772 shares in the last quarter. State Street Corp grew its holdings in shares of RCM Technologies by 6.7% during the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock worth $518,000 after purchasing an additional 1,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in RCM Technologies during the 3rd quarter worth approximately $425,000. Finally, Exchange Traded Concepts LLC purchased a new position in RCM Technologies in the third quarter valued at approximately $315,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RCMT shares. StockNews.com downgraded shares of RCM Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. B. Riley raised their price objective on RCM Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Benchmark upped their target price on RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

RCM Technologies Stock Performance

Shares of RCMT opened at $19.53 on Friday. RCM Technologies, Inc. has a 12-month low of $17.11 and a 12-month high of $29.80. The business’s fifty day moving average price is $21.65 and its 200 day moving average price is $20.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $148.43 million, a PE ratio of 10.02 and a beta of 0.65.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $60.37 million during the quarter, compared to the consensus estimate of $60.59 million. RCM Technologies had a net margin of 5.77% and a return on equity of 58.70%. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities research analysts forecast that RCM Technologies, Inc. will post 2.07 EPS for the current year.

Insider Transactions at RCM Technologies

In other news, insider Michael Saks sold 2,852 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $23.99, for a total transaction of $68,419.48. Following the completion of the sale, the insider now owns 114,158 shares in the company, valued at approximately $2,738,650.42. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.40% of the company’s stock.

About RCM Technologies

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.