Edgewater Technology, Inc. (EDGW) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS
Edgewater Technology, Inc. (NASDAQ:EDGW) announced its earnings results on Wednesday. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.05, Morningstar.com reports. Edgewater Technology had a negative return on equity of 6.21% and a negative net margin of 3.84%. The business had revenue of $30.31 million for the quarter.
Edgewater Technology (EDGW) traded down 0.56% on Thursday, reaching $7.15. 40,417 shares of the company’s stock traded hands. Edgewater Technology has a 52 week low of $6.22 and a 52 week high of $9.40. The firm’s market capitalization is $96.09 million. The stock has a 50-day moving average of $6.95 and a 200 day moving average of $7.09.
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In other Edgewater Technology news, Director Frederick D. Disanto purchased 20,451 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average price of $7.17 per share, for a total transaction of $146,633.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kurt James Wolf purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $7.20 per share, for a total transaction of $216,000.00. The disclosure for this purchase can be found here. Insiders purchased 68,951 shares of company stock worth $497,684 in the last 90 days. 23.54% of the stock is currently owned by insiders.
About Edgewater Technology
Edgewater Technology, Inc is a provider of transformational classic and product-based consulting services. The Company helps the C-suite drive transformational change through its selection of business and technology services, and channel-based solutions. The classic consulting disciplines (such as business advisory, process improvement, organizational change management, mergers and acquisitions (M&A) due diligence, and domain expertise) are blended with technical services (digital transformation, technical roadmaps, data and analytics services, custom development and system integration) to help organizations leverage investments in legacy information technology (IT) assets.
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