Mitek Systems, Inc. (NASDAQ:MITK) CEO James B. Debello sold 10,313 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.60, for a total value of $88,691.80. Following the sale, the chief executive officer now owns 909,903 shares of the company’s stock, valued at approximately $7,825,165.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Mitek Systems, Inc. (NASDAQ MITK) opened at $9.00 on Friday. Mitek Systems, Inc. has a 52 week low of $5.26 and a 52 week high of $10.75. The firm has a market capitalization of $303.52, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 3.40 and a beta of 0.69.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. Mitek Systems had a return on equity of 12.72% and a net margin of 31.05%. The company had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. analysts expect that Mitek Systems, Inc. will post 0.13 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in MITK. Archon Capital Management LLC raised its stake in shares of Mitek Systems by 70.4% during the second quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock worth $7,215,000 after purchasing an additional 354,952 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Mitek Systems by 3,097.1% during the first quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock worth $2,431,000 after purchasing an additional 354,150 shares during the last quarter. Unterberg Capital LLC raised its stake in shares of Mitek Systems by 195.1% during the second quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock worth $3,108,000 after purchasing an additional 244,600 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Mitek Systems during the third quarter worth approximately $1,681,000. Finally, Algert Global LLC purchased a new stake in shares of Mitek Systems during the second quarter worth approximately $1,356,000. Institutional investors and hedge funds own 42.50% of the company’s stock.
MITK has been the subject of several recent analyst reports. Benchmark Co. boosted their target price on Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research cut Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Northland Securities reiterated a “buy” rating and issued a $11.00 price objective on shares of Mitek Systems in a research note on Tuesday, July 25th. Roth Capital set a $11.00 price objective on Mitek Systems and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, BidaskClub upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.67.
About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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