Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 10,000 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $11.80, for a total value of $118,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ:MITK opened at $12.86 on Wednesday. The stock has a 50 day moving average of $11.73 and a two-hundred day moving average of $9.50. The firm has a market cap of $523.12 million, a P/E ratio of 90.51, a price-to-earnings-growth ratio of 2.19 and a beta of 0.31. Mitek Systems, Inc. has a 12 month low of $5.26 and a 12 month high of $13.53.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, July 30th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $25.41 million during the quarter, compared to analyst estimates of $23.39 million. Mitek Systems had a return on equity of 15.32% and a net margin of 6.37%. Analysts anticipate that Mitek Systems, Inc. will post 0.35 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in Mitek Systems in the second quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Mitek Systems by 32.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the software maker’s stock valued at $87,000 after acquiring an additional 2,217 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Mitek Systems in the first quarter valued at approximately $91,000. State of Wisconsin Investment Board acquired a new position in Mitek Systems in the second quarter valued at approximately $98,000. Finally, SG Americas Securities LLC acquired a new position in Mitek Systems in the first quarter valued at approximately $107,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.
A number of research firms recently weighed in on MITK. BidaskClub cut Mitek Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. TheStreet upgraded Mitek Systems from a “c+” rating to a “b-” rating in a research note on Monday, August 24th. Finally, Zacks Investment Research upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Mitek Systems has a consensus rating of “Buy” and an average target price of $11.00.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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