Mitek Systems (MITK) Sets New 12-Month High at $10.16
Mitek Systems, Inc. (NASDAQ:MITK) hit a new 52-week high on Monday . The company traded as high as $10.16 and last traded at $9.85, with a volume of 31310 shares traded. The stock had previously closed at $8.97.
MITK has been the topic of a number of research reports. Benchmark lowered Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Tuesday, August 28th. National Securities set a $18.00 price objective on Mitek Systems and gave the stock a “buy” rating in a research report on Tuesday, August 28th. BidaskClub lowered Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Zacks Investment Research upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research report on Wednesday, October 10th. Finally, ValuEngine upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Mitek Systems has an average rating of “Buy” and a consensus target price of $13.67.
The stock has a market cap of $339.04 million, a P/E ratio of 75.00, a PEG ratio of 3.15 and a beta of -0.39.
In other Mitek Systems news, CEO James B. Debello sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $9.46, for a total value of $473,000.00. Following the sale, the chief executive officer now owns 710,695 shares in the company, valued at approximately $6,723,174.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Stephen Ritter sold 3,120 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $9.40, for a total value of $29,328.00. Following the completion of the sale, the chief technology officer now owns 219,654 shares in the company, valued at approximately $2,064,747.60. The disclosure for this sale can be found here. Insiders sold a total of 126,304 shares of company stock worth $1,190,878 in the last quarter. Corporate insiders own 7.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance grew its position in shares of Mitek Systems by 1.1% in the 3rd quarter. Independent Advisor Alliance now owns 611,045 shares of the software maker’s stock valued at $4,125,000 after buying an additional 6,500 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Mitek Systems by 13.4% in the 3rd quarter. Teachers Advisors LLC now owns 71,568 shares of the software maker’s stock valued at $505,000 after purchasing an additional 8,455 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Mitek Systems by 15.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 71,065 shares of the software maker’s stock valued at $633,000 after purchasing an additional 9,300 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of Mitek Systems in the 2nd quarter valued at about $122,000. Finally, MML Investors Services LLC acquired a new position in shares of Mitek Systems in the 3rd quarter valued at about $100,000. Hedge funds and other institutional investors own 46.79% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.watchlistnews.com/mitek-systems-mitk-sets-new-12-month-high-at-10-16/2676089.html.
Mitek Systems Company Profile (NASDAQ:MITK)
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.
Further Reading: Compound Interest and Why It Matters When Investing
Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with MarketBeat.com's FREE daily email newsletter.