Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) COO Garrett Gafke sold 152,529 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $13.92, for a total value of $2,123,203.68. Following the completion of the sale, the chief operating officer owned 265,387 shares in the company, valued at approximately $3,694,187.04. The trade was a 36.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Mitek Systems Trading Down 0.1%
Shares of Mitek Systems stock opened at $14.06 on Wednesday. The firm has a market cap of $637.20 million, a P/E ratio of 40.17 and a beta of 1.03. Mitek Systems, Inc. has a 12 month low of $8.07 and a 12 month high of $15.80. The stock's fifty day moving average price is $14.16 and its 200-day moving average price is $11.41.
Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its earnings results on Thursday, February 5th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Mitek Systems had a return on equity of 16.86% and a net margin of 8.67%.The company had revenue of $44.24 million for the quarter, compared to analyst estimates of $42.44 million. Analysts forecast that Mitek Systems, Inc. will post 0.88 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Jefferies Financial Group upgraded Mitek Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $11.00 to $15.00 in a research note on Friday, February 13th. Wall Street Zen raised Mitek Systems from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. Zacks Research downgraded Mitek Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 16th. Northland Securities set a $17.00 price target on Mitek Systems in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Mitek Systems in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.00.
View Our Latest Report on MITK
Institutional Investors Weigh In On Mitek Systems
Institutional investors and hedge funds have recently modified their holdings of the company. Topline Capital Management LLC lifted its holdings in Mitek Systems by 99.6% in the third quarter. Topline Capital Management LLC now owns 1,055,608 shares of the software maker's stock valued at $10,313,000 after acquiring an additional 526,842 shares during the period. Principal Financial Group Inc. raised its stake in shares of Mitek Systems by 124.5% during the 3rd quarter. Principal Financial Group Inc. now owns 68,944 shares of the software maker's stock worth $674,000 after buying an additional 38,237 shares during the period. Tudor Investment Corp ET AL raised its stake in shares of Mitek Systems by 1,026.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker's stock worth $2,255,000 after buying an additional 210,352 shares during the period. Skylands Capital LLC raised its stake in shares of Mitek Systems by 140.0% during the 3rd quarter. Skylands Capital LLC now owns 225,296 shares of the software maker's stock worth $2,201,000 after buying an additional 131,421 shares during the period. Finally, Teton Advisors LLC acquired a new position in shares of Mitek Systems during the 3rd quarter worth approximately $918,000. Institutional investors and hedge funds own 83.64% of the company's stock.
About Mitek Systems
(
Get Free Report)
Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.
The company's core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.
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