Mitek Systems, Inc. (MITK) CEO James B. Debello Sells 50,000 Shares

Mitek Systems, Inc. (NASDAQ:MITK) CEO James B. Debello sold 50,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $8.50, for a total value of $425,000.00. Following the sale, the chief executive officer now owns 893,887 shares of the company’s stock, valued at approximately $7,598,039.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Mitek Systems, Inc. (MITK) traded down $0.25 during mid-day trading on Wednesday, reaching $8.35. The company had a trading volume of 405,500 shares, compared to its average volume of 371,473. The stock has a market cap of $299.06, a price-to-earnings ratio of 57.33, a price-to-earnings-growth ratio of 4.30 and a beta of 0.64. Mitek Systems, Inc. has a one year low of $5.50 and a one year high of $10.75.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The company had revenue of $12.90 million during the quarter, compared to analyst estimates of $12.35 million. Mitek Systems had a return on equity of 11.49% and a net margin of 31.05%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. equities research analysts forecast that Mitek Systems, Inc. will post 0.13 EPS for the current year.

Several analysts have recently commented on the company. BidaskClub upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Zacks Investment Research lowered Mitek Systems from a “hold” rating to a “sell” rating in a research note on Friday, November 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Mitek Systems currently has an average rating of “Hold” and an average target price of $10.80.

Hedge funds have recently modified their holdings of the stock. Renaissance Group LLC raised its stake in Mitek Systems by 1.2% in the 2nd quarter. Renaissance Group LLC now owns 54,110 shares of the software maker’s stock worth $455,000 after acquiring an additional 620 shares during the last quarter. Unterberg Capital LLC raised its stake in Mitek Systems by 195.1% in the 2nd quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock worth $3,108,000 after acquiring an additional 244,600 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Mitek Systems by 43.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 122,135 shares of the software maker’s stock worth $812,000 after acquiring an additional 37,271 shares during the last quarter. Thrivent Financial For Lutherans purchased a new position in Mitek Systems in the 2nd quarter worth $271,000. Finally, Vanguard Group Inc. raised its stake in Mitek Systems by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock worth $8,705,000 after acquiring an additional 99,489 shares during the last quarter. Institutional investors own 43.56% of the company’s stock.

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About Mitek Systems

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)

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