BidaskClub upgraded shares of Mitek Systems (NASDAQ:MITK) from a strong sell rating to a sell rating in a research report sent to investors on Thursday.
Separately, Zacks Investment Research downgraded Mitek Systems from a hold rating to a sell rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Mitek Systems presently has an average rating of Hold and an average target price of $10.80.
Mitek Systems (MITK) traded up $0.10 during mid-day trading on Thursday, hitting $9.30. The stock had a trading volume of 172,438 shares, compared to its average volume of 241,956. The company has a market capitalization of $323.41, a P/E ratio of 24.47, a P/E/G ratio of 4.65 and a beta of 0.66. Mitek Systems has a 12 month low of $5.50 and a 12 month high of $10.75.
In related news, Director Bruce Edward Hansen sold 50,000 shares of Mitek Systems stock in a transaction on Friday, November 10th. The stock was sold at an average price of $9.16, for a total transaction of $458,000.00. Following the completion of the sale, the director now directly owns 61,600 shares of the company’s stock, valued at $564,256. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James B. Debello sold 28,361 shares of Mitek Systems stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $8.91, for a total value of $252,696.51. Following the sale, the chief executive officer now directly owns 844,726 shares of the company’s stock, valued at $7,526,508.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,303 shares of company stock valued at $2,065,223. 8.52% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC grew its stake in shares of Mitek Systems by 1.3% during the second quarter. TIAA CREF Investment Management LLC now owns 123,759 shares of the software maker’s stock worth $1,040,000 after purchasing an additional 1,624 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Mitek Systems by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 25,541 shares of the software maker’s stock worth $214,000 after purchasing an additional 1,854 shares during the period. Rhumbline Advisers grew its stake in shares of Mitek Systems by 6.1% during the second quarter. Rhumbline Advisers now owns 33,626 shares of the software maker’s stock worth $282,000 after purchasing an additional 1,927 shares during the period. Voya Investment Management LLC grew its stake in shares of Mitek Systems by 20.0% during the second quarter. Voya Investment Management LLC now owns 17,451 shares of the software maker’s stock worth $147,000 after purchasing an additional 2,906 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Mitek Systems by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 102,100 shares of the software maker’s stock worth $857,000 after purchasing an additional 2,982 shares during the period. 43.53% of the stock is owned by institutional investors and hedge funds.
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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.
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