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

SilverSun Technologies, Inc. (NASDAQ:SSNT) shares were down 5.4% during mid-day 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 Price Performance

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 firm has a fifty day moving average price of $14.04 and a two-hundred day moving average price of $10.86. The stock has a market capitalization of $74.16 million, a P/E ratio of -67.15 and a beta of 2.14.

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

Insider Activity

In related news, CEO Mark Meller sold 56,913 shares of SilverSun Technologies stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $13.69, for a total transaction of $779,138.97. Following the sale, the chief executive officer now owns 325,612 shares of the company’s stock, valued at approximately $4,457,628.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 79,985 shares of company stock valued at $1,085,419 in the last ninety days. Corporate insiders own 37.78% of the company’s stock.

Institutional Investors Weigh In On SilverSun Technologies

A number of hedge funds have recently bought and sold shares of SSNT. Gainplan LLC bought a new position in shares of SilverSun Technologies in the first quarter worth about $452,000. Deltec Asset Management LLC purchased a new position in SilverSun Technologies during the 4th quarter worth approximately $342,000. Gendell Jeffrey L acquired a new stake in shares of SilverSun Technologies during the 4th quarter worth approximately $257,000. PNC Financial Services Group Inc. grew its stake in shares of SilverSun Technologies by 11,500.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,600 shares of the company’s stock worth $198,000 after purchasing an additional 11,500 shares during the period. Finally, Red Door Wealth Management LLC acquired a new stake in shares of SilverSun Technologies during the 4th quarter worth approximately $171,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.