Mitek Systems, Inc. (NASDAQ:MITK) CEO Buys $506,550.00 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West purchased 55,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $9.21 per share, with a total value of $506,550.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Mitek Systems Price Performance

Shares of Mitek Systems stock opened at $9.87 on Thursday. The business’s fifty day moving average price is $10.41 and its 200 day moving average price is $9.46. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $446.56 million, a P/E ratio of 109.67 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. As a group, research analysts anticipate that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MITK. Infinitum Asset Management LLC purchased a new position in shares of Mitek Systems in the 4th quarter valued at $556,000. PharVision Advisers LLC acquired a new stake in Mitek Systems in the 4th quarter valued at $132,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Mitek Systems by 13.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 81,781 shares of the software maker’s stock valued at $910,000 after purchasing an additional 9,882 shares during the period. Two Sigma Advisers LP raised its position in Mitek Systems by 438.4% in the fourth quarter. Two Sigma Advisers LP now owns 124,900 shares of the software maker’s stock valued at $1,390,000 after purchasing an additional 101,700 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of Mitek Systems by 179.0% during the fourth quarter. Two Sigma Investments LP now owns 247,306 shares of the software maker’s stock worth $2,753,000 after purchasing an additional 158,672 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MITK has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. StockNews.com cut Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Maxim Group increased their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mitek Systems presently has an average rating of “Moderate Buy” and an average target price of $12.88.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.