Mitek Systems (NASDAQ:MITK) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday, December 22nd.
Separately, Zacks Investment Research upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a report on Saturday, November 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.80.
Shares of Mitek Systems (NASDAQ MITK) traded up $0.25 on Friday, reaching $9.40. 327,957 shares of the company traded hands, compared to its average volume of 257,354. The company has a market cap of $318.19, a P/E ratio of 24.74, a PEG ratio of 4.57 and a beta of 0.66. Mitek Systems has a 12-month low of $5.50 and a 12-month high of $10.75.
Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, November 7th. The software maker reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The firm had revenue of $12.90 million for the quarter, compared to the consensus estimate of $12.35 million. During the same quarter last year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 33.4% on a year-over-year basis. research analysts forecast that Mitek Systems will post 0.13 earnings per share for the current fiscal year.
In related news, CEO James B. Debello sold 28,361 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $8.91, for a total value of $252,696.51. Following the sale, the chief executive officer now owns 844,726 shares of the company’s stock, valued at $7,526,508.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Clark Sarah sold 7,741 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $8.56, for a total transaction of $66,262.96. Following the completion of the sale, the vice president now directly owns 110,271 shares in the company, valued at approximately $943,919.76. The disclosure for this sale can be found here. In the last three months, insiders sold 234,303 shares of company stock worth $2,065,223. 8.52% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Thomson Horstmann & Bryant Inc. boosted its position in Mitek Systems by 12.5% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 654,553 shares of the software maker’s stock valued at $5,858,000 after buying an additional 72,755 shares in the last quarter. Algert Global LLC boosted its position in Mitek Systems by 16.3% in the third quarter. Algert Global LLC now owns 187,705 shares of the software maker’s stock valued at $1,783,000 after buying an additional 26,316 shares in the last quarter. Independent Advisor Alliance acquired a new position in Mitek Systems in the third quarter valued at about $4,185,000. Highbridge Capital Management LLC acquired a new position in Mitek Systems in the third quarter valued at about $365,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in Mitek Systems in the third quarter valued at about $102,000. Hedge funds and other institutional investors own 43.53% of the company’s stock.
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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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