Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West Buys 55,000 Shares

Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West purchased 55,000 shares of Mitek Systems stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the acquisition, the chief executive officer now owns 55,000 shares of the company’s stock, valued at approximately $506,550. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mitek Systems Stock Performance

MITK stock opened at $9.91 on Tuesday. The company has a market capitalization of $448.37 million, a P/E ratio of 110.11 and a beta of 1.08. The company has a 50-day simple moving average of $10.45 and a 200 day simple moving average of $9.44. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Sell-side analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mitek Systems

Several institutional investors have recently bought and sold shares of MITK. Barclays PLC lifted its holdings in Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after acquiring an additional 60,256 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Mitek Systems by 357.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after acquiring an additional 64,509 shares during the last quarter. State Street Corp lifted its holdings in Mitek Systems by 3.8% in the 3rd quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock valued at $11,326,000 after acquiring an additional 47,418 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Mitek Systems by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock valued at $2,280,000 after acquiring an additional 35,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock valued at $1,134,000 after acquiring an additional 2,460 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MITK. StockNews.com downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, Maxim Group boosted their price target on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Mitek Systems has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

Mitek Systems Company Profile

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.