Breaking: Mitek Systems, Inc. Stock Is Rising Now

Breaking: Mitek Systems, Inc. Stock Is Rising Now

The stock of Mitek Systems, Inc. (NASDAQ:MITK) is a huge mover today! About 347,176 shares traded hands. Mitek Systems, Inc. (NASDAQ:MITK) has declined 9.92% since April 18, 2016 and is downtrending. It has underperformed by 14.35% the S&P500.
The move comes after 6 months positive chart setup for the $178.66M company. It was reported on Nov, 18 by Barchart.com. We have $13.74 PT which if reached, will make NASDAQ:MITK worth $248.34M more.

Mitek Systems, Inc. (NASDAQ:MITK) Ratings Coverage

Out of 2 analysts covering Mitek Systems (NASDAQ:MITK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Mitek Systems has been the topic of 3 analyst reports since January 8, 2016 according to StockzIntelligence Inc. The stock of Mitek Systems, Inc. (NASDAQ:MITK) has “Buy” rating given on Friday, January 8 by Benchmark. Northland Capital initiated Mitek Systems, Inc. (NASDAQ:MITK) on Monday, January 25 with “Outperform” rating. The stock has “Buy” rating given by Benchmark on Wednesday, March 23.

According to Zacks Investment Research, “Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in 2016 Q2. Its down 0.43, from 1.52 in 2016Q1. The ratio dropped, as 26 funds sold all Mitek Systems, Inc. shares owned while 18 reduced positions. 37 funds bought stakes while 30 increased positions. They now own 13.95 million shares or 37.44% more from 10.15 million shares in 2016Q1.
The Pennsylvania-based Vanguard Grp has invested 0% in Mitek Systems, Inc. (NASDAQ:MITK). Oxford Asset reported 202,339 shares or 0.06% of all its holdings. Moreover, Nationwide Fund Advsr has 0% invested in Mitek Systems, Inc. (NASDAQ:MITK) for 19,226 shares. G2 Investment Mgmt Lc has invested 2.38% of its portfolio in Mitek Systems, Inc. (NASDAQ:MITK). Savings Bank Of New York Mellon Corp owns 186,334 shares or 0% of their US portfolio. Burt Wealth Advsr has invested 0.09% of its portfolio in Mitek Systems, Inc. (NASDAQ:MITK). Driehaus Mngmt Lc holds 502,323 shares or 0.13% of its portfolio. Palo last reported 0.15% of its portfolio in the stock. National Bank Of America De, a North Carolina-based fund reported 24,055 shares. California Public Employees Retirement Sys has 56,400 shares for 0% of their US portfolio. Metropolitan Life Ins Communications has 22,722 shares for 0% of their US portfolio. Boothbay Fund Management holds 0.04% or 10,680 shares in its portfolio. The Pennsylvania-based Federated Pa has invested 0% in Mitek Systems, Inc. (NASDAQ:MITK). Wellington Group Llp has 0% invested in the company for 124,396 shares. The United Kingdom-based Gsa Cap Prtn Limited Liability Partnership has invested 0.02% in Mitek Systems, Inc. (NASDAQ:MITK).

Insider Transactions: Since November 8, 2016, the stock had 0 buys, and 4 insider sales for $134,474 net activity. SARAH CLARK had sold 477 shares worth $2,910 on Tuesday, November 8. CLARK RUSSELL C. also sold $21,783 worth of Mitek Systems, Inc. (NASDAQ:MITK) on Tuesday, November 8. $43,877 worth of Mitek Systems, Inc. (NASDAQ:MITK) shares were sold by Diamond Michael E. $65,904 worth of Mitek Systems, Inc. (NASDAQ:MITK) was sold by DEBELLO JAMES B on Tuesday, November 8.

More news for Mitek Systems, Inc. (NASDAQ:MITK) were recently published by: Fool.com, which released: “Why Shares of Mitek Systems Inc. Sank Today” on June 02, 2016. Seekingalpha.com‘s article titled: “Mitek Systems – Favorable 2017 Outlook” and published on November 04, 2016 is yet another important article.

MITK Company Profile

Mitek Systems, Inc., incorporated on May 29, 1986, develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard. The Company’s technology uses algorithms to correct image distortion, extract relevant data, route images to their desired location and process transactions. The Company’s technology processes images of documents in many ways. These include quality analysis, image repair, document identification and the extraction of hand-printed and machine-printed text.

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