AMERI Holdings Inc (NASDAQ: AMRH) announced that it has brought a large new customer through the doors, exciting investors and sending the stock screaming for the top early on in the market this morning. The new customer is a Fortune 500 company that brings plenty of opportunity to the digital services firm to generate more revenue. Today, we’ll talk about:
- The new customer;
- what we’re seeing from AMRH stock as a result; and
- what we’ll be watching for ahead.
AMRH Announces A New Customer
As mentioned above, AMERI Holdings is having a strong start to the trading session this morning after the company announced that it has brought a new customer on board. In a press release issued early this morning, the company said that it was selected by a Fortune 500 global insurance company that serves more than 50 million customers around the world.
The large insurance firm selected AMRH as a partner in performing an impact assessment of migrating their current SAP ERP platform to SAP S/4HANA. S/4HANA is what the company calls SAP’s digital core innovation platform and it is considered a critical tool in the delievery of the digital business of the future.
In a statement, Brent Kelton, CEO at AMRH, had the following to offer:
Customers continue to recognize us as a value-added partner in their digital transformation journey and, as evidenced by our selection, we are gaining visibility with much larger enterprises with much larger project opportunities… From transformation planning through implementation and deployment, Ameri100 is committed to helping businesses determine the best strategy to migrate to the cloud and accelerate their transformation to an intelligent digital enterprise with minimal disruption.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to AMERI Holdings, the news proved to be incredibly positive. After all, being selected by a Fortune 500 company is no easy feat to accomplish. Not only is this a bode of confidence in the company’s work, the news will drive new revenue into the company. So, it’s not surprising to see that excited investors are pushing the stock toward the top in the market this morning. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:37), AMRH is trading at $0.43 per share after a gain of $0.14 per share or 47.01% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMRH. In particular, we’re interested in following the story surrounding the company’s newly found relationship with this customer as well as its continued work to expand its client base. Nonetheless, we’ll continue to follow the news closely and bring it to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!