Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) CEO Edward H. West acquired 55,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at approximately $506,550. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Mitek Systems Stock Down 5.0 %
NASDAQ:MITK traded down $0.49 during mid-day trading on Thursday, hitting $9.38. The company had a trading volume of 772,574 shares, compared to its average volume of 569,181. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The business has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $9.46. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $424.39 million, a price-to-earnings ratio of 104.22 and a beta of 1.08.
Mitek Systems (NASDAQ:MITK - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Equities analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Mitek Systems
Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Mitek Systems by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,798,287 shares of the software maker's stock worth $20,016,000 after acquiring an additional 112,513 shares during the last quarter. Invesco Ltd. increased its holdings in Mitek Systems by 534.4% during the 4th quarter. Invesco Ltd. now owns 1,722,099 shares of the software maker's stock worth $19,167,000 after purchasing an additional 1,450,652 shares during the last quarter. State Street Corp raised its position in shares of Mitek Systems by 3.8% in the 3rd quarter. State Street Corp now owns 1,306,351 shares of the software maker's stock valued at $11,326,000 after purchasing an additional 47,418 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Mitek Systems by 2,115.7% during the 4th quarter. Marshall Wace LLP now owns 859,123 shares of the software maker's stock valued at $9,562,000 after buying an additional 820,349 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Mitek Systems by 1.5% during the fourth quarter. Ameriprise Financial Inc. now owns 655,656 shares of the software maker's stock worth $7,297,000 after buying an additional 9,894 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on MITK. StockNews.com downgraded shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and set a $13.00 price target on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, Maxim Group upped their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.88.
Get Our Latest Stock Analysis on Mitek Systems
About Mitek Systems
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Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.
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