Mitek Systems (MITK) Upgraded at BidaskClub

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.

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

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.

TRADEMARK VIOLATION WARNING: “Mitek Systems (MITK) Upgraded at BidaskClub” was first published by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3149127/mitek-systems-mitk-upgraded-at-bidaskclub.html.

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.

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.