Altshuler Shaham Ltd purchased a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,862 shares of the software maker’s stock, valued at approximately $49,000.

Several other institutional investors have also recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Mitek Systems by 4.0% during the second quarter. American International Group Inc. now owns 24,484 shares of the software maker’s stock valued at $235,000 after purchasing an additional 952 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Mitek Systems by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 447,420 shares of the software maker’s stock valued at $4,300,000 after purchasing an additional 1,957 shares during the period. California Public Employees Retirement System increased its position in shares of Mitek Systems by 2.3% during the third quarter. California Public Employees Retirement System now owns 90,881 shares of the software maker’s stock valued at $1,158,000 after purchasing an additional 2,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Mitek Systems by 32.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the software maker’s stock valued at $87,000 after purchasing an additional 2,217 shares during the period. Finally, Bank of America Corp DE grew its position in Mitek Systems by 11.9% in the second quarter. Bank of America Corp DE now owns 25,127 shares of the software maker’s stock valued at $242,000 after acquiring an additional 2,682 shares during the period. Institutional investors and hedge funds own 67.60% of the company’s stock.

A number of analysts have weighed in on the company. Zacks Investment Research cut Mitek Systems from a “hold” rating to a “sell” rating in a research report on Thursday, November 12th. BidaskClub raised Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 10th. Finally, TheStreet raised Mitek Systems from a “c+” rating to a “b-” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $11.00.

In related news, Director Alex W. Hart sold 40,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $13.29, for a total transaction of $531,600.00. Also, Director Bruce Edward Hansen sold 25,376 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $12.59, for a total value of $319,483.84. Following the sale, the director now owns 151,906 shares in the company, valued at approximately $1,912,496.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,244 shares of company stock worth $1,888,272. Corporate insiders own 3.60% of the company’s stock.

Shares of NASDAQ MITK opened at $11.96 on Friday. The stock has a market capitalization of $493.80 million, a PE ratio of 66.45 and a beta of 0.33. The business has a fifty day moving average price of $13.25 and a two-hundred day moving average price of $11.19. Mitek Systems, Inc. has a fifty-two week low of $5.26 and a fifty-two week high of $15.10.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, November 5th. The software maker reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.12. The firm had revenue of $30.64 million during the quarter, compared to analysts’ expectations of $26.86 million. Mitek Systems had a return on equity of 15.32% and a net margin of 6.37%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. As a group, equities research analysts expect that Mitek Systems, Inc. will post 0.46 earnings per share for the current fiscal year.

Mitek Systems Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and browsers to facilitate online user experiences, fraud detection and reduction, and compliant transactions.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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