Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 3,868 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $9.48, for a total transaction of $36,668.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
MITK stock opened at $8.10 on Friday. The company has a market capitalization of $390.92 million, a price-to-earnings ratio of 62.31, a PEG ratio of 2.59 and a beta of -0.20. The business has a 50 day simple moving average of $9.70 and a two-hundred day simple moving average of $10.02. Mitek Systems, Inc. has a 1-year low of $8.01 and a 1-year high of $13.07.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, November 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $25.02 million during the quarter, compared to the consensus estimate of $25.02 million. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. Mitek Systems’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. On average, equities analysts predict that Mitek Systems, Inc. will post 0.16 EPS for the current fiscal year.
Several equities research analysts recently issued reports on MITK shares. BidaskClub lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Roth Capital set a $14.00 target price on shares of Mitek Systems and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Zacks Investment Research downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $14.75.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. increased its stake in Mitek Systems by 20.0% in the second quarter. Wedbush Securities Inc. now owns 12,000 shares of the software maker’s stock worth $119,000 after purchasing an additional 2,000 shares during the period. Teton Advisors Inc. increased its stake in shares of Mitek Systems by 2.3% during the third quarter. Teton Advisors Inc. now owns 89,500 shares of the software maker’s stock valued at $864,000 after buying an additional 2,000 shares during the period. Aperio Group LLC purchased a new position in shares of Mitek Systems during the second quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Mitek Systems during the second quarter valued at $29,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Mitek Systems by 24.5% during the third quarter. Envestnet Asset Management Inc. now owns 15,047 shares of the software maker’s stock valued at $145,000 after buying an additional 2,962 shares during the period. Institutional investors own 61.38% of the company’s stock.
About Mitek Systems
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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