Edward H. West Purchases 55,000 Shares of Mitek Systems, Inc. (NASDAQ:MITK) Stock

Mitek Systems, Inc. (NASDAQ:MITK) CEO Edward H. West purchased 55,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $9.21 per share, for a total transaction 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mitek Systems Stock Performance

NASDAQ MITK opened at $9.89 on Wednesday. The stock has a market capitalization of $447.46 million, a price-to-earnings ratio of 109.89 and a beta of 1.08. The business’s 50 day moving average is $10.43 and its two-hundred day moving average is $9.45. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73.

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

Hedge Funds Weigh In On Mitek Systems

Large investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in Mitek Systems by 534.4% during the fourth quarter. Invesco Ltd. now owns 1,722,099 shares of the software maker’s stock worth $19,167,000 after buying an additional 1,450,652 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Mitek Systems by 2,115.7% during the 4th quarter. Marshall Wace LLP now owns 859,123 shares of the software maker’s stock valued at $9,562,000 after acquiring an additional 820,349 shares during the period. Impax Asset Management Group plc purchased a new stake in shares of Mitek Systems during the 4th quarter worth approximately $5,565,000. Invenomic Capital Management LP acquired a new stake in shares of Mitek Systems in the 3rd quarter worth approximately $4,068,000. Finally, Phoenix Financial Ltd. purchased a new position in Mitek Systems in the 4th quarter valued at approximately $4,733,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

MITK has been the topic of several analyst reports. StockNews.com downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, Maxim Group boosted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Mitek Systems currently has an average rating of “Moderate Buy” and an average target price 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.