Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West Purchases 55,000 Shares

Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West purchased 55,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $9.21 per share, with a total value of $506,550.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Mitek Systems Trading Down 0.2 %

Shares of MITK opened at $9.89 on Wednesday. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The firm has a market capitalization of $447.46 million, a P/E ratio of 109.89 and a beta of 1.08. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $10.43 and its 200 day simple moving average is $9.45.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. On average, equities research analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Mitek Systems in the fourth quarter worth $31,000. Canada Pension Plan Investment Board acquired a new stake in Mitek Systems in the 4th quarter valued at $39,000. Avior Wealth Management LLC purchased a new position in Mitek Systems in the third quarter valued at about $60,000. Ancora Advisors LLC purchased a new position in Mitek Systems in the fourth quarter valued at about $67,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Mitek Systems during the fourth quarter worth about $105,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. Maxim Group lifted their price target on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.88.

About Mitek Systems

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.