Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 8,753 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $9.84, for a total transaction of $86,129.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Mitek Systems stock traded up $0.05 during trading hours on Thursday, hitting $9.86. 5,142 shares of the stock were exchanged, compared to its average volume of 208,323. The stock has a market capitalization of $398.96 million, a P/E ratio of 75.62, a P/E/G ratio of 4.23 and a beta of -0.13. Mitek Systems, Inc. has a 12 month low of $6.32 and a 12 month high of $13.07. The business’s 50-day moving average is $9.78 and its two-hundred day moving average is $10.52.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Mitek Systems had a negative net margin of 7.61% and a positive return on equity of 6.33%. The business had revenue of $21.91 million for the quarter, compared to analysts’ expectations of $21.74 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Mitek Systems’s revenue was up 36.0% compared to the same quarter last year. As a group, sell-side analysts expect that Mitek Systems, Inc. will post 0.16 EPS for the current year.

A number of hedge funds have recently made changes to their positions in MITK. Bank of America Corp DE boosted its stake in Mitek Systems by 100.6% in the fourth quarter. Bank of America Corp DE now owns 25,016 shares of the software maker’s stock valued at $270,000 after acquiring an additional 12,543 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Mitek Systems by 30,452.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,027 shares of the software maker’s stock valued at $86,000 after acquiring an additional 7,004 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Mitek Systems in the first quarter valued at approximately $331,000. Royce & Associates LP bought a new position in Mitek Systems in the first quarter valued at approximately $2,521,000. Finally, Meitav Dash Investments Ltd. boosted its stake in Mitek Systems by 13.1% in the first quarter. Meitav Dash Investments Ltd. now owns 37,524 shares of the software maker’s stock valued at $441,000 after acquiring an additional 4,349 shares during the last quarter. 61.46% of the stock is currently owned by hedge funds and other institutional investors.

MITK has been the subject of a number of research analyst reports. Roth Capital set a $14.00 price objective on shares of Mitek Systems and gave the company a “buy” rating in a research report on Friday, July 19th. BidaskClub lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. ValuEngine raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research lowered shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.75.

Mitek Systems Company Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

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

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