AMERI Holdings Inc (NASDAQ: AMRH) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has secured a new project that not only will drive revenue, but acts as an entrance into a new sector for the company. As you could imagine, the news excited investors, leading the stock on a run for the top. Today, we’ll talk about:
- The new project;
- what we’re seeing from AMRH as a result; and
- what we’ll be watching for ahead.
AMRH Is Flying On New Project
As mentioned above, AMERI Holdings is having an incredibly strong start to the trading session after news broke surrounding a new project. In a press release issued early this morning, the company announced that it has secured a project to implement a robotic process automation solution with MedData. MedData is a leading provider of patient-facing financial services for hospitals and health systems.
In the release, AMRH said that the new project win is a first for Ameri100 in the healthcare sector. The project will ultimately center on the implementation of UiPath’s Robotic Process Automation (RPA) solution as a first step in modernization and optimization of MedData’s IT legacy platform. The project also positions the company as a key strategic partner that drives MedData’s digital transformation. In a statement, Brent Kelton CEO at Ameri100, a subsidiary of AMRH, had the following to offer:
The healthcare sector represents a significant, long-term opportunity for Ameri100 as enterprises move to prioritize patient experiences through the deployment of new technologies that improve not only patient satisfaction levels, but also enterprises’ bottom lines. Adding disruptive technologies and services, such as RPA, artificial intelligence/machine learning and blockchain, to our service offerings portfolio enhances our digital transformation services and helps clients unlock the full value of their investments in IT… With a proven reputation for developing and implementing successful digital transformation migration paths across other business verticals, we are proactively positioning ourselves in front of healthcare enterprises just starting on their journeys.
The above statement was followed up by Sue Chilson, Chief Information Officer at MedData. Here’s what she had to offer:
Today’s automation projects are very different from the IT projects of the past. They are largely business-led and have very short cycles for deployment, thereby helping companies realize value much quicker. This allows us to be much more innovative. While transactional automation is one of the key focuses, we intend to shrink the time it takes to respond to and solve issues that arise, improve quality, and reduce risk. This area is maturing rapidly and playing a greater role in making companies faster, smarter, and more agile.
What We’re Seeing Seeing From The Stock
As investors, one of the first lessons that we learn is to keep a close eye on the news. After all, the news moves the market. In the case of AMRH, the news proved to be overwhelmingly positive. With a new project on hand, the company will not only drive revenue, but enters into a new sector entirely. So, it’s no surprise that excited investors are sending the stock on a run for the top in the market today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:34), AMRH is trading at $2.20 per share after a gain of $1.02 per share or 86.44% thus far today.
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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 new project and the revenue this project will drive. Nonetheless, we’ll continue to follow the story closely and bring th enews to you as it breaks!
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