Mitek Systems, Inc. (NASDAQ:MITK) Director Bruce Edward Hansen sold 50,000 shares of Mitek Systems stock in a transaction on Friday, November 10th. The shares were sold at an average price of $9.16, for a total transaction of $458,000.00. Following the transaction, the director now owns 61,600 shares in the company, valued at approximately $564,256. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Mitek Systems, Inc. (NASDAQ MITK) remained flat at $$9.00 during midday trading on Tuesday. 327,600 shares of the company’s stock were exchanged, compared to its average volume of 374,089. The company has a market capitalization of $308.99, a P/E ratio of 60.00, a P/E/G ratio of 4.50 and a beta of 0.69. Mitek Systems, Inc. has a 52 week low of $5.26 and a 52 week high of $10.75.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $12.90 million for the quarter, compared to the consensus estimate of $12.35 million. Mitek Systems had a net margin of 31.05% and a return on equity of 12.72%. Mitek Systems’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. analysts forecast that Mitek Systems, Inc. will post 0.13 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Mitek Systems, Inc. (MITK) Director Sells $458,000.00 in Stock” was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/14/mitek-systems-inc-mitk-director-sells-458000-00-in-stock.html.

A number of research firms recently weighed in on MITK. Zacks Investment Research cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Benchmark Co. lifted their target price on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 24th. BidaskClub cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Roth Capital set a $11.00 target price on shares of Mitek Systems and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, Northland Securities restated a “buy” rating and set a $11.00 target price on shares of Mitek Systems in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $10.67.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Mitek Systems by 2.1% in the 1st quarter. Bank of America Corp DE now owns 23,382 shares of the software maker’s stock valued at $156,000 after acquiring an additional 490 shares during the last quarter. Renaissance Group LLC increased its holdings in Mitek Systems by 1.2% in the 2nd quarter. Renaissance Group LLC now owns 54,110 shares of the software maker’s stock valued at $455,000 after acquiring an additional 620 shares during the last quarter. American International Group Inc. increased its holdings in Mitek Systems by 7.1% in the 1st quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock valued at $121,000 after acquiring an additional 1,197 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Mitek Systems by 1.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 123,759 shares of the software maker’s stock valued at $1,040,000 after acquiring an additional 1,624 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Mitek Systems by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,541 shares of the software maker’s stock valued at $214,000 after acquiring an additional 1,854 shares during the last quarter. Institutional investors own 42.40% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Mitek Systems (NASDAQ:MITK)

Receive News & Ratings for Mitek Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.