A tool according to one embodiment includes an actuating mechanism including a cam plate; at least one gripper member operatively coupled to the cam plate; and a carriage for supporting the at least one gripper member, wherein the at least one gripper member is actuatable by the cam plate, wherein rotation of the cam plate causes the at least one gripper member to move between a first position and a second position, wherein when the at least one gripper member is in the first position, the tool is able to accept a processor for holding thereof, and wherein when the at least one gripper member is in the second position, the tool securely holds the processor therein. Additional systems and methods are also presented.