SilverSun Technologies (NASDAQ:SSNT) Shares Down 5.4%

SilverSun Technologies, Inc. (NASDAQ:SSNT)’s stock price was down 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 Price Performance

The firm has a market capitalization of $68.73 million, a price-to-earnings ratio of -64.60 and a beta of 2.14. The stock’s fifty day moving average price is $14.13 and its two-hundred day moving average price is $10.83. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17.

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

Insider Buying and Selling

In related news, CEO Mark Meller sold 14,584 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $13.08, for a total value of $190,758.72. Following the completion of the transaction, the chief executive officer now directly owns 295,152 shares of the company’s stock, valued at $3,860,588.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 79,985 shares of company stock worth $1,085,419 over the last 90 days. 37.78% of the stock is owned by insiders.

Institutional Investors Weigh In On SilverSun Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Red Door Wealth Management LLC acquired a new position in SilverSun Technologies during the fourth quarter worth approximately $171,000. Deltec Asset Management LLC purchased a new position in shares of SilverSun Technologies during the fourth quarter worth approximately $342,000. Webster Bank N. A. acquired a new position in shares of SilverSun Technologies in the 4th quarter valued at $50,000. Gendell Jeffrey L purchased a new stake in SilverSun Technologies in the 4th quarter valued at $257,000. Finally, PNC Financial Services Group Inc. boosted its stake in 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. 58.68% of the stock is 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.