Mitek Systems, Inc. (NASDAQ:MITK) CEO Acquires $506,550.00 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West bought 55,000 shares of Mitek Systems stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $9.21 per share, with a total value of $506,550.00. Following the acquisition, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mitek Systems Trading Down 0.2 %

NASDAQ:MITK opened at $9.87 on Thursday. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week high of $16.24. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $10.41 and a 200-day simple moving average of $9.46. The company has a market capitalization of $446.56 million, a PE ratio of 109.67 and a beta of 1.08.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MITK. Creative Planning acquired a new stake in Mitek Systems during the 3rd quarter valued at $152,000. Olympiad Research LP purchased a new stake in shares of Mitek Systems in the third quarter valued at $247,000. Kovack Advisors Inc. acquired a new stake in shares of Mitek Systems during the third quarter valued at $372,000. Fifth Third Wealth Advisors LLC purchased a new stake in Mitek Systems during the 3rd quarter worth about $506,000. Finally, Avior Wealth Management LLC purchased a new stake in Mitek Systems during the 3rd quarter worth about $60,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.