Mitek Systems, Inc. (MITK) Insider Sells $98,654.00 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 11,525 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $8.56, for a total transaction of $98,654.00. Following the sale, the insider now directly owns 184,941 shares of the company’s stock, valued at $1,583,094.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Mitek Systems, Inc. (NASDAQ MITK) opened at $8.65 on Monday. The stock has a market cap of $291.72, a PE ratio of 57.67, a P/E/G ratio of 4.32 and a beta of 0.69. Mitek Systems, Inc. has a 1 year low of $5.35 and a 1 year high of $10.75.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a net margin of 31.05% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. equities research analysts expect that Mitek Systems, Inc. will post 0.13 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Mitek Systems, Inc. (MITK) Insider Sells $98,654.00 in Stock” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://sportsperspectives.com/2017/11/20/mitek-systems-inc-mitk-insider-sells-98654-00-in-stock.html.

Several equities analysts recently commented on MITK shares. Roth Capital set a $12.00 target price on shares of Mitek Systems and gave the company a “buy” rating in a research note on Friday, July 28th. Northland Securities reiterated a “buy” rating and set a $11.00 target price on shares of Mitek Systems in a research note on Tuesday, July 25th. Benchmark Co. upped their target price on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 24th. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $10.67.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Mitek Systems by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,374,109 shares of the software maker’s stock worth $11,543,000 after acquiring an additional 65,065 shares during the last quarter. Archon Capital Management LLC grew its holdings in Mitek Systems by 70.4% during the 2nd quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock worth $7,215,000 after acquiring an additional 354,952 shares during the last quarter. Thomson Horstmann & Bryant Inc. grew its holdings in Mitek Systems by 11.4% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 649,330 shares of the software maker’s stock worth $5,454,000 after acquiring an additional 66,688 shares during the last quarter. State Street Corp grew its holdings in Mitek Systems by 7.6% during the 2nd quarter. State Street Corp now owns 514,403 shares of the software maker’s stock worth $4,322,000 after acquiring an additional 36,397 shares during the last quarter. Finally, Independent Advisor Alliance bought a new position in shares of Mitek Systems in the 3rd quarter valued at about $4,185,000. 40.48% of the stock is currently owned by hedge funds and other institutional investors.

Mitek Systems Company Profile

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 their camera-equipped smartphones and tablets instead of using the device keyboard.

Insider Buying and Selling by Quarter for Mitek Systems (NASDAQ:MITK)

Receive News & Ratings for Mitek Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply