Shares of Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.00 and traded as high as $19.60. Mitek Systems shares last traded at $19.44, with a volume of 625,071 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on MITK. Zacks Research cut Mitek Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 16th. Northland Securities set a $17.00 target price on Mitek Systems in a research note on Wednesday, April 15th. Wall Street Zen downgraded shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Mitek Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Mitek Systems has a consensus rating of "Hold" and an average target price of $16.00.
Read Our Latest Stock Report on MITK
Mitek Systems Trading Up 5.3%
The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.20. The company has a market cap of $877.91 million, a P/E ratio of 55.54 and a beta of 0.97. The firm's 50 day moving average is $16.61 and its two-hundred day moving average is $14.00.
Mitek Systems (NASDAQ:MITK - Get Free Report) last announced its earnings results on Thursday, May 7th. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.12. The business had revenue of $54.84 million during the quarter, compared to analyst estimates of $52.59 million. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%. As a group, equities research analysts anticipate that Mitek Systems, Inc. will post 0.86 EPS for the current year.
Insider Activity at Mitek Systems
In related news, COO Garrett Gafke sold 152,529 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $13.92, for a total value of $2,123,203.68. Following the sale, the chief operating officer directly owned 265,387 shares in the company, valued at $3,694,187.04. This represents a 36.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Mitek Systems
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Mitek Systems by 5.6% in the third quarter. Vanguard Group Inc. now owns 3,717,031 shares of the software maker's stock worth $36,315,000 after purchasing an additional 198,068 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mitek Systems by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,919,576 shares of the software maker's stock valued at $20,252,000 after acquiring an additional 10,105 shares during the period. Dimensional Fund Advisors LP boosted its stake in Mitek Systems by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,685,657 shares of the software maker's stock worth $22,756,000 after acquiring an additional 29,997 shares in the last quarter. Impax Asset Management Group plc boosted its stake in Mitek Systems by 8.4% during the fourth quarter. Impax Asset Management Group plc now owns 1,295,000 shares of the software maker's stock worth $13,662,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Mitek Systems by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,262,658 shares of the software maker's stock worth $13,323,000 after purchasing an additional 9,921 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.
Mitek Systems Company Profile
(
Get Free Report)
Mitek Systems, Inc NASDAQ: MITK is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.
The company's core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.
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