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

SilverSun Technologies, Inc. (NASDAQ:SSNT) dropped 5.4% during mid-day trading on Wednesday . The stock traded as low as $12.80 and last traded at $12.92. Approximately 59,631 shares were traded during 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 Up 3.8 %

The firm has a market capitalization of $74.16 million, a PE ratio of -67.15 and a beta of 2.14. The firm’s 50-day simple moving average is $14.04 and its 200-day simple moving average is $10.86. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17.

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

Insiders Place Their Bets

In related news, CEO Mark Meller sold 8,488 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $13.61, for a total value of $115,521.68. Following the sale, the chief executive officer now owns 398,046 shares in the company, valued at $5,417,406.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 79,985 shares of company stock worth $1,085,419. 37.78% of the stock is currently owned by company insiders.

Institutional Trading of SilverSun Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Webster Bank N. A. purchased a new position in shares of SilverSun Technologies during the 4th quarter worth about $50,000. Red Door Wealth Management LLC bought a new stake in shares of SilverSun Technologies in the 4th quarter valued at about $171,000. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $198,000 after purchasing an additional 11,500 shares in the last quarter. Gendell Jeffrey L bought a new stake in shares of SilverSun Technologies in the 4th quarter valued at about $257,000. Finally, Deltec Asset Management LLC bought a new stake in shares of SilverSun Technologies in the 4th quarter valued at about $342,000. 58.68% of the stock is currently owned by 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.