Mitek Systems (NASDAQ:MITK) Earns “Buy” Rating from HC Wainwright

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

Separately, StockNews.com raised shares of 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 issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Mitek Systems Trading Down 2.6 %

NASDAQ MITK opened at $10.13 on Tuesday. The firm has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $9.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.39 and a current ratio of 4.39. Mitek Systems has a one year low of $7.35 and a one year high of $16.24. The firm has a market cap of $458.32 million, a price-to-earnings ratio of 168.83 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 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%. Equities research analysts anticipate that Mitek Systems will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the sale, the insider now owns 164,342 shares of the company’s stock, valued at approximately $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael E. Diamond sold 4,544 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total transaction of $41,304.96. Following the sale, the insider now directly owns 166,632 shares in the company, valued at approximately $1,514,684.88. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,699 shares of company stock worth $152,140 over the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Trading of Mitek Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MITK. Canada Pension Plan Investment Board acquired a new stake in Mitek Systems during the fourth quarter worth approximately $39,000. nVerses Capital LLC raised its holdings in Mitek Systems by 25.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock worth $55,000 after purchasing an additional 1,300 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Mitek Systems during the third quarter worth approximately $60,000. KLP Kapitalforvaltning AS acquired a new stake in Mitek Systems during the fourth quarter worth approximately $105,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Mitek Systems during the fourth quarter worth approximately $114,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.