Mitek Systems, Inc. (MITK) Holdings Raised by Vanguard Group Inc.
Vanguard Group Inc. raised its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,374,109 shares of the software maker’s stock after acquiring an additional 65,065 shares during the quarter. Vanguard Group Inc. owned 4.10% of Mitek Systems worth $11,543,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Mitek Systems by 2.1% in the first quarter. Bank of America Corp DE now owns 23,382 shares of the software maker’s stock valued at $156,000 after acquiring an additional 490 shares during the period. Renaissance Group LLC lifted its holdings in Mitek Systems by 1.2% in the second quarter. Renaissance Group LLC now owns 54,110 shares of the software maker’s stock valued at $455,000 after acquiring an additional 620 shares during the period. American International Group Inc. lifted its holdings in Mitek Systems by 7.1% in the first quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock valued at $121,000 after acquiring an additional 1,197 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in Mitek Systems by 1.3% in the second quarter. TIAA CREF Investment Management LLC now owns 123,759 shares of the software maker’s stock valued at $1,040,000 after acquiring an additional 1,624 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Mitek Systems by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 33,626 shares of the software maker’s stock worth $282,000 after buying an additional 1,927 shares during the last quarter. 40.48% of the stock is owned by institutional investors.
In other Mitek Systems news, insider Jason Gray sold 12,211 shares of Mitek Systems stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $9.13, for a total value of $111,486.43. Following the completion of the sale, the insider now owns 75,000 shares in the company, valued at approximately $684,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce Edward Hansen sold 50,000 shares of Mitek Systems stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $9.16, for a total value of $458,000.00. Following the completion of the sale, the director now owns 61,600 shares of the company’s stock, valued at approximately $564,256. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,703 shares of company stock valued at $1,242,004. 8.52% of the stock is currently owned by company insiders.
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Mitek Systems, Inc. (NASDAQ:MITK) opened at $9.25 on Wednesday. The stock has a market capitalization of $301.83, a price-to-earnings ratio of 59.67, a PEG ratio of 4.47 and a beta of 0.69. Mitek Systems, Inc. has a one year low of $5.35 and a one year high of $10.75.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a return on equity of 12.72% and a net margin of 31.05%. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. research analysts predict that Mitek Systems, Inc. will post 0.13 earnings per share for the current year.
MITK has been the subject of several research reports. Northland Securities reaffirmed a “buy” rating and set a $11.00 price target on shares of Mitek Systems in a research note on Tuesday, July 25th. Roth Capital set a $12.00 price target on Mitek Systems and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Mitek Systems currently has an average rating of “Buy” and a consensus price target of $10.67.
About Mitek Systems
Mitek Systems, Inc 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 their camera-equipped smartphones and tablets instead of using the device keyboard.
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