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

Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West bought 55,000 shares of the stock in a transaction on Thursday, February 20th. The shares were bought at an average price 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 $506,550. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mitek Systems Stock Up 4.2 %

Shares of MITK traded up $0.40 during midday trading on Monday, hitting $9.71. 254,065 shares of the company’s stock traded hands, compared to its average volume of 546,471. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The firm’s fifty day moving average is $10.45 and its 200-day moving average is $9.45. 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 $439.09 million, a price-to-earnings ratio of 108.22 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results 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 net margin of 2.59% and a return on equity of 16.53%. As a group, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its position in shares of Mitek Systems by 24.7% in the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock valued at $96,000 after acquiring an additional 1,700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Mitek Systems by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,600 shares of the software maker’s stock valued at $674,000 after purchasing an additional 1,803 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Mitek Systems by 1.9% during 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 purchasing an additional 2,460 shares during the last quarter. Quarry LP acquired a new position in shares of Mitek Systems in the fourth quarter valued at about $31,000. Finally, Janus Henderson Group PLC increased its holdings in Mitek Systems by 4.0% in the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker’s stock worth $640,000 after buying an additional 2,806 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

MITK has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Mitek Systems in a research report on Tuesday, February 11th. Maxim Group boosted their target price 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. Finally, StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.