SilverSun Technologies, Inc. (SSNT) stock is currently being traded at $8.27 with a $0.57 (7.4%) increase in the premarket after it closed at $7.7 yesterday. The stock has a trading volume of 113.765K. The price dropped by 13.39% yesterday but the stock is showing a bullish sign with no news to point for the activity.
SilverSun Technologies (SSNT) released its Q1 report on 11 May 2021. According to the report:
- The revenue generated was $10,879,468, compared with $10,079,524, a total increase of 7.9% was observed.
- Software sales were recorded as $2,004,011, compared with $1,769,171, an increase of 13.3% was seen in comparison.
- Services revenues totaled $8,875,457, compared with $8,310,353, an increase of 6.8%.
- A total of Gross profit was $4,746,537 seen, compared with $3,852,210, an increase of 23.2%
According to the Chairman SSNT has had an excellent run in the first quarter. He goes on to say that customers feel confident about their economy both in the short term and long term vision. He hopes that they would see rapid growth in the business in a few years.
The stock soared and made its ATH on 6 July 2021 by reaching a price of $14.87 before closing at $14.09 on the day. This price increase was observed after the Company announced Cash Dividends on June 22, 2021. According to the press release the record date was to be July 9, 2021, and the payment date was due on July 16, 2021. This isn’t the first time that the stock has increased its value after dividends were announced. An increase of 14.24% was also observed in December 2020 when the company announced its stock dividends.
How SSNT Stock kept itself busy
The company has had an amazing run this year with a lot of bullish sentiments. Fundamentals were good that resulted in the rise of the stock price. SSNT has been busy acquiring new companies. SilverSun has acquired Praire Technology Solutions. They have also signed to acquire the Human Capital Management Division of PeopleSense and C-T Solutions as well. Currently, the company has a total of 7 subsidiaries.SSNT’s subsidiary SWK Technologies Inc. has also established an IT security and Compliance division. This new move is going to help their more than 5000 customers in achieving compliance.
Being Headed from Denver, they provide solutions to business management and technological developments. They are also providing consulting services to small and medium-sized companies. The company has a growing business in CANADA and the USA with a major concentration in New York, Chicago, Arizona, California, and Washington.
