Mitek Systems, Inc. (NASDAQ:MITK) Insider Sells $32,310.00 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $10.77, for a total value of $32,310.00. Following the sale, the insider now owns 218,471 shares of the company’s stock, valued at $2,352,932.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mitek Systems Trading Up 2.3 %

Shares of NASDAQ:MITK opened at $10.97 on Monday. The stock has a 50 day moving average of $10.80 and a 200 day moving average of $10.73. The company has a market cap of $500.12 million, a PE ratio of 60.95 and a beta of 0.94. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.64. Mitek Systems, Inc. has a 12-month low of $8.60 and a 12-month high of $13.98.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $43.07 million during the quarter. Mitek Systems had a return on equity of 19.55% and a net margin of 4.88%. As a group, equities research analysts expect that Mitek Systems, Inc. will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MITK. Tower Research Capital LLC TRC lifted its holdings in Mitek Systems by 88.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock worth $29,000 after purchasing an additional 1,475 shares in the last quarter. Point72 Middle East FZE purchased a new position in Mitek Systems in the 4th quarter worth approximately $40,000. Quarry LP lifted its holdings in Mitek Systems by 536.0% in the 1st quarter. Quarry LP now owns 4,738 shares of the software maker’s stock worth $45,000 after purchasing an additional 3,993 shares in the last quarter. Royal Bank of Canada lifted its holdings in Mitek Systems by 66.4% in the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock worth $46,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Mitek Systems by 115,275.0% in the 2nd quarter. Covestor Ltd now owns 4,615 shares of the software maker’s stock worth $50,000 after purchasing an additional 4,611 shares in the last quarter. 74.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research note on Friday, September 15th. StockNews.com initiated coverage on Mitek Systems in a research note on Thursday, October 5th. They set a “buy” rating for the company.

Mitek Systems Company Profile

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.