James B. Debello Sells 22,769 Shares of Mitek Systems Inc. (MITK) Stock
Mitek Systems Inc. (NASDAQ:MITK) CEO James B. Debello sold 22,769 shares of Mitek Systems stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $5.41, for a total value of $123,180.29. Following the completion of the transaction, the chief executive officer now owns 942,985 shares in the company, valued at $5,101,548.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Mitek Systems Inc. (NASDAQ:MITK) opened at 5.90 on Tuesday. The firm has a market cap of $193.41 million, a PE ratio of 98.33 and a beta of 2.58. Mitek Systems Inc. has a 12 month low of $3.95 and a 12 month high of $9.49. The firm’s 50-day moving average price is $6.82 and its 200-day moving average price is $7.62.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Mitek Systems had a net margin of 5.65% and a return on equity of 13.41%. The business earned $9.67 million during the quarter, compared to analysts’ expectations of $9.60 million. During the same period last year, the company posted $0.09 EPS. The company’s revenue was up 22.9% on a year-over-year basis. Analysts expect that Mitek Systems Inc. will post $0.28 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of MITK. Vanguard Group Inc. boosted its position in shares of Mitek Systems by 12.0% in the second quarter. Vanguard Group Inc. now owns 1,132,112 shares of the company’s stock worth $8,049,000 after buying an additional 121,599 shares during the period. Wells Fargo & Company MN boosted its position in shares of Mitek Systems by 515.4% in the third quarter. Wells Fargo & Company MN now owns 1,043,733 shares of the company’s stock worth $8,652,000 after buying an additional 874,130 shares during the period. BlackRock Fund Advisors boosted its position in shares of Mitek Systems by 7.2% in the third quarter. BlackRock Fund Advisors now owns 819,394 shares of the company’s stock worth $6,793,000 after buying an additional 55,132 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Mitek Systems by 4.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 759,031 shares of the company’s stock worth $6,292,000 after buying an additional 34,977 shares during the period. Finally, G2 Investment Partners Management LLC acquired a new position in shares of Mitek Systems during the second quarter worth $5,161,000. 47.94% of the stock is owned by institutional investors and hedge funds.
MITK has been the subject of a number of recent analyst reports. Zacks Investment Research cut Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th. TheStreet raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Finally, Benchmark Co. reissued a “buy” rating and issued a $10.00 price objective on shares of Mitek Systems in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $9.13.
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 camera-equipped smartphones and tablets instead of using the device keyboard.
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