SilverSun Technologies (NASDAQ:SSNT) Shares Down 16.8%

SilverSun Technologies, Inc. (NASDAQ:SSNTGet Free Report)’s share price traded down 16.8% during trading on Monday . The stock traded as low as $14.51 and last traded at $16.31. 324,000 shares were traded during mid-day trading, an increase of 198% from the average session volume of 108,837 shares. The stock had previously closed at $19.61.

SilverSun Technologies Stock Performance

The stock has a market capitalization of $86.70 million, a P/E ratio of -74.14 and a beta of 2.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average price of $104.56 and a 200-day moving average price of $105.32.

SilverSun Technologies (NASDAQ:SSNTGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.24 EPS for the quarter. The company had revenue of $14.44 million for the quarter. SilverSun Technologies had a negative return on equity of 14.96% and a negative net margin of 2.17%.

SilverSun Technologies Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, June 5th were issued a dividend of $3.27 per share. The ex-dividend date was Wednesday, June 5th. This is a positive change from SilverSun Technologies’s previous dividend of $0.20.

Insiders Place Their Bets

In other news, CEO Mark Meller sold 6,732 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $147.04, for a total transaction of $989,873.28. Following the sale, the chief executive officer now directly owns 27,136 shares in the company, valued at approximately $3,990,077.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 35.70% of the stock is owned by insiders.

Institutional Trading of SilverSun Technologies

Several institutional investors have recently made changes to their positions in the company. Red Door Wealth Management LLC purchased a new stake in SilverSun Technologies in the fourth quarter valued at $171,000. Deltec Asset Management LLC acquired a new position in shares of SilverSun Technologies during the fourth quarter worth about $342,000. Webster Bank N. A. acquired a new position in SilverSun Technologies during the fourth quarter worth about $50,000. Vanguard Group Inc. grew its position in shares of SilverSun Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 167,536 shares of the company’s stock valued at $2,210,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Gendell Jeffrey L lifted its stake in shares of SilverSun Technologies by 1,121.7% during the first quarter. Gendell Jeffrey L now owns 183,263 shares of the company’s stock valued at $2,417,000 after buying an additional 168,262 shares during the period. Hedge funds and other institutional investors own 58.68% of the company’s stock.

SilverSun Technologies Company Profile

(Get Free Report)

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.

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