Mitek Systems, Inc. (NASDAQ:MITK) CTO Stephen Ritter Sells 1,425 Shares

Mitek Systems, Inc. (NASDAQ:MITK) CTO Stephen Ritter sold 1,425 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $9.48, for a total value of $13,509.00. Following the completion of the transaction, the chief technology officer now directly owns 109,350 shares in the company, valued at $1,036,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ:MITK traded down $1.70 on Friday, hitting $8.10. The stock had a trading volume of 2,227,200 shares, compared to its average volume of 376,037. The stock has a market cap of $390.92 million, a price-to-earnings ratio of 62.31, a price-to-earnings-growth ratio of 2.59 and a beta of -0.20. The business’s 50-day simple moving average is $9.73 and its two-hundred day simple moving average is $10.04. Mitek Systems, Inc. has a 52-week low of $8.01 and a 52-week high of $13.07.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, November 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. The business had revenue of $25.02 million for the quarter, compared to analysts’ expectations of $25.02 million. During the same period last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts forecast that Mitek Systems, Inc. will post 0.16 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of MITK. Aperio Group LLC purchased a new position in shares of Mitek Systems during the 2nd quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Mitek Systems during the 2nd quarter valued at about $29,000. Bank of Montreal Can lifted its position in shares of Mitek Systems by 12,019.2% during the 2nd quarter. Bank of Montreal Can now owns 3,151 shares of the software maker’s stock valued at $31,000 after buying an additional 3,125 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new position in shares of Mitek Systems during the 3rd quarter valued at about $38,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mitek Systems during the 2nd quarter valued at about $100,000. 61.38% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the company. Zacks Investment Research cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. BidaskClub cut Mitek Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Roth Capital set a $14.00 target price on Mitek Systems and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.75.

About Mitek Systems

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

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