Mitek Systems, Inc. (NASDAQ:MITK) CTO Stephen Ritter sold 9,078 shares of Mitek Systems stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $9.41, for a total transaction of $85,423.98. Following the sale, the chief technology officer now owns 219,654 shares of the company’s stock, valued at approximately $2,066,944.14. The sale was disclosed in a document filed with the SEC, which is available through this link.

Stephen Ritter also recently made the following trade(s):

  • On Friday, November 16th, Stephen Ritter sold 3,120 shares of Mitek Systems stock. The shares were sold at an average price of $9.40, for a total transaction of $29,328.00.

MITK stock traded down $0.08 during trading on Wednesday, reaching $9.43. The company had a trading volume of 44,205 shares, compared to its average volume of 470,792. The stock has a market capitalization of $356.42 million, a PE ratio of 72.54, a price-to-earnings-growth ratio of 3.25 and a beta of -0.26. Mitek Systems, Inc. has a twelve month low of $6.32 and a twelve month high of $10.00.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, November 1st. The software maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $20.09 million. Mitek Systems had a negative net margin of 18.58% and a positive return on equity of 5.75%. Mitek Systems’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period last year, the business earned $0.11 EPS. Sell-side analysts anticipate that Mitek Systems, Inc. will post 0.19 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in MITK. First Trust Advisors LP lifted its stake in shares of Mitek Systems by 85.0% in the 2nd quarter. First Trust Advisors LP now owns 59,223 shares of the software maker’s stock valued at $527,000 after purchasing an additional 27,202 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Mitek Systems by 4.6% in the second quarter. Wells Fargo & Company MN now owns 1,359,255 shares of the software maker’s stock valued at $12,098,000 after purchasing an additional 59,360 shares during the period. BlackRock Inc. grew its holdings in shares of Mitek Systems by 12.9% in the second quarter. BlackRock Inc. now owns 2,190,650 shares of the software maker’s stock valued at $19,497,000 after purchasing an additional 250,585 shares during the period. Global X Management Co LLC grew its holdings in shares of Mitek Systems by 125.4% in the second quarter. Global X Management Co LLC now owns 85,899 shares of the software maker’s stock valued at $765,000 after purchasing an additional 47,792 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new position in Mitek Systems in the second quarter valued at about $122,000. Institutional investors own 48.63% of the company’s stock.

A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, November 6th. BidaskClub raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. National Securities set a $18.00 price objective on shares of Mitek Systems and gave the stock a “buy” rating in a research report on Friday, November 2nd. ValuEngine upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Finally, Benchmark cut shares of Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $12.33.

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About Mitek Systems

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.

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