Mitek Systems (NASDAQ:MITK) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Mitek Systems (NASDAQ:MITK) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $13.00 price objective on the software maker’s stock.

Separately, StockNews.com raised Mitek Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Mitek Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Mitek Systems Trading Down 7.8 %

Shares of MITK opened at $10.16 on Tuesday. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.67. Mitek Systems has a 12-month low of $7.35 and a 12-month high of $16.24. The firm has a market capitalization of $459.54 million, a PE ratio of 169.33 and a beta of 1.08. The stock’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $9.60.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a net margin of 1.90% and a return on equity of 16.64%. As a group, research analysts predict that Mitek Systems will post 0.65 earnings per share for the current year.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, insider Michael E. Diamond sold 4,544 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the completion of the sale, the insider now directly owns 166,632 shares in the company, valued at $1,514,684.88. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Gray sold 6,222 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the sale, the insider now owns 164,342 shares of the company’s stock, valued at $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mitek Systems

Large investors have recently modified their holdings of the business. nVerses Capital LLC increased its holdings in shares of Mitek Systems by 25.5% in the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,300 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Mitek Systems in the third quarter worth about $60,000. KLP Kapitalforvaltning AS bought a new position in shares of Mitek Systems during the fourth quarter worth about $105,000. Y Intercept Hong Kong Ltd bought a new position in shares of Mitek Systems during the fourth quarter worth about $114,000. Finally, Intech Investment Management LLC bought a new position in shares of Mitek Systems during the third quarter worth about $117,000. 83.64% of the stock is currently owned by institutional investors.

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.