James B. Debello Sells 28,361 Shares of Mitek Systems, Inc. (MITK) Stock

Mitek Systems, Inc. (NASDAQ:MITK) CEO James B. Debello sold 28,361 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $8.91, for a total transaction of $252,696.51. Following the transaction, the chief executive officer now owns 844,726 shares of the company’s stock, valued at approximately $7,526,508.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mitek Systems, Inc. (MITK) traded up $0.05 during midday trading on Thursday, reaching $9.00. 129,005 shares of the company’s stock traded hands, compared to its average volume of 329,479. Mitek Systems, Inc. has a 12 month low of $5.50 and a 12 month high of $10.75. The firm has a market cap of $312.97, a PE ratio of 23.68, a PEG ratio of 4.45 and a beta of 0.66.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The business had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. During the same quarter in the prior year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. sell-side analysts expect that Mitek Systems, Inc. will post 0.13 EPS for the current year.

Several institutional investors have recently modified their holdings of MITK. Russell Investments Group Ltd. boosted its holdings in shares of Mitek Systems by 16.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 83,741 shares of the software maker’s stock valued at $703,000 after buying an additional 11,943 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Mitek Systems by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 33,626 shares of the software maker’s stock valued at $282,000 after buying an additional 1,927 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Mitek Systems by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 102,100 shares of the software maker’s stock valued at $857,000 after buying an additional 2,982 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Mitek Systems by 150.9% in the 2nd quarter. Federated Investors Inc. PA now owns 31,918 shares of the software maker’s stock valued at $268,000 after buying an additional 19,197 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Mitek Systems by 148.0% in the 2nd quarter. Alliancebernstein L.P. now owns 36,700 shares of the software maker’s stock valued at $308,000 after buying an additional 21,900 shares in the last quarter. Institutional investors and hedge funds own 43.53% of the company’s stock.

MITK has been the subject of several analyst reports. Zacks Investment Research cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub cut shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $10.80.

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Mitek Systems Company Profile

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.

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

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