SilverSun Technologies (NASDAQ:SSNT) Stock Price Down 5.4%

SilverSun Technologies, Inc. (NASDAQ:SSNT)’s share price dropped 5.4% during trading on Wednesday . The company traded as low as $12.80 and last traded at $12.92. Approximately 59,631 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 124,908 shares. The stock had previously closed at $13.66.

SilverSun Technologies Trading Down 5.4 %

The firm has a market capitalization of $68.73 million, a PE ratio of -64.60 and a beta of 2.14. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $14.13 and its 200 day simple moving average is $10.83.

SilverSun Technologies (NASDAQ:SSNT) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.08 EPS for the quarter. The firm had revenue of $14.71 million during the quarter. SilverSun Technologies had a negative net margin of 1.96% and a negative return on equity of 12.38%.

Insider Transactions at SilverSun Technologies

In other SilverSun Technologies news, CEO Mark Meller sold 56,913 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $13.69, for a total value of $779,138.97. Following the completion of the sale, the chief executive officer now owns 325,612 shares of the company’s stock, valued at $4,457,628.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 79,985 shares of company stock valued at $1,085,419 in the last quarter. 37.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in SilverSun Technologies by 11,500.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,600 shares of the company’s stock worth $198,000 after buying an additional 11,500 shares during the period. Gendell Jeffrey L acquired a new stake in shares of SilverSun Technologies in the fourth quarter worth $257,000. Webster Bank N. A. acquired a new stake in shares of SilverSun Technologies in the fourth quarter worth $50,000. Deltec Asset Management LLC purchased a new position in shares of SilverSun Technologies during the fourth quarter worth $342,000. Finally, Red Door Wealth Management LLC acquired a new position in SilverSun Technologies during the fourth quarter valued at $171,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

SilverSun Technologies Company Profile

SilverSun Technologies, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.