Home Top Movers SSNT Stock Is Gaining Momentum Before Market Open. Why?

SSNT Stock Is Gaining Momentum Before Market Open. Why?

In premarket trading hours on the last report, the provider of transformational business software applications and managed IT services, SilverSun Technologies Inc. (SSNT) was up 2.10% at $8.77.

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At the close of the last trading, the SilverSun stock dropped by -2.39% to $6.53 with price of the stock ranged between $6.30 and $6.67. Over the last 100 days, SSNT stock has traded 0.39 million shares, which was higher than its last day’s volume of 0.18 million shares.

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Last five days, SSNT stock fell by -6.04%, but over the past month, the stock has gained 16.40%. Today’s surge in the SSNT stock has been coming on the heels of an acquisition deal with a technology firm for a human resource software division.

What was the acquisition deal signed for?

SilverSun is an information technology and business consulting company that provides information technology and business management solutions to clients. SSNT helps clients manage, protect and monetize their assets, whether they’re on-premises or in the cloud. Business intelligence, warehouse management applications, customer relationship management, etc. are all part and parcel of SSNT’s offering of ERP, WMS, CRM, HCM, and other business applications.

SilverSun Technologies announced today that its wholly-owned subsidiary, SWK Technologies, Inc., has entered into an agreement with PeopleSense Inc. (“PS”) to acquire the HCM division of the Chicago-based company.

In the course of the past 18 years, PeopleSense has been implementing Human Capital Management solutions to clients who reside across half of the United States, the U.S. Virgin Islands, Canada, and Puerto Rico. SWK Technologies, a subsidiary of SSNT, has one of the biggest Sage partnerships in North America.

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Finally,

Although SilverSun’s SWK had been traditionally focused on warehouse management systems (WMS), customer relationship management (CRM), enterprise resource planning, business intelligence, and other applications, the SWK created an HCM division in 2018 in an effort to better serve its over 5000 clients. The HCM division of SSNT’s SWK has developed into one of its fastest-growing divisions since then.

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