Mitek Systems, Inc. (MITK) CEO James B. Debello Sells 42,308 Shares

Mitek Systems, Inc. (NASDAQ:MITK) CEO James B. Debello sold 42,308 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $9.41, for a total value of $398,118.28. Following the completion of the sale, the chief executive officer now owns 718,687 shares in the company, valued at $6,762,844.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

James B. Debello also recently made the following trade(s):

  • On Wednesday, August 22nd, James B. Debello sold 50,000 shares of Mitek Systems stock. The shares were sold at an average price of $8.54, for a total value of $427,000.00.

NASDAQ:MITK opened at $9.34 on Friday. Mitek Systems, Inc. has a 52-week low of $6.32 and a 52-week high of $10.00. The firm has a market cap of $353.02 million, a P/E ratio of 71.85, a P/E/G ratio of 3.22 and a beta of -0.26.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, November 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Mitek Systems had a positive return on equity of 5.75% and a negative net margin of 18.58%. The company had revenue of $21.00 million for the quarter, compared to analyst estimates of $20.09 million. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 62.8% compared to the same quarter last year. On average, research analysts anticipate that Mitek Systems, Inc. will post 0.19 earnings per share for the current year.

A number of analysts recently issued reports on the company. BidaskClub lowered Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. ValuEngine upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. National Securities set a $18.00 price objective on Mitek Systems and gave the company a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, November 6th. Finally, Benchmark lowered Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $12.33.

Several large investors have recently added to or reduced their stakes in MITK. BlackRock Inc. increased its stake in Mitek Systems by 12.9% in the 2nd quarter. BlackRock Inc. now owns 2,190,650 shares of the software maker’s stock worth $19,497,000 after acquiring an additional 250,585 shares during the last quarter. Wells Fargo & Company MN increased its stake in Mitek Systems by 4.6% in the 2nd quarter. Wells Fargo & Company MN now owns 1,359,255 shares of the software maker’s stock worth $12,098,000 after acquiring an additional 59,360 shares during the last quarter. Credit Suisse AG increased its stake in Mitek Systems by 429.8% in the 3rd quarter. Credit Suisse AG now owns 1,175,675 shares of the software maker’s stock worth $8,288,000 after acquiring an additional 953,764 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in Mitek Systems by 16.5% in the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 1,058,514 shares of the software maker’s stock worth $7,462,000 after acquiring an additional 149,810 shares during the last quarter. Finally, Unterberg Capital LLC increased its stake in Mitek Systems by 2.4% in the 3rd quarter. Unterberg Capital LLC now owns 650,000 shares of the software maker’s stock worth $4,583,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors own 48.63% of the company’s stock.

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About Mitek Systems

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.

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