Segall Bryant & Hamill LLC Lowers Holdings in Mitek Systems, Inc. $MITK

Segall Bryant & Hamill LLC trimmed its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 34.6% during the 1st quarter, HoldingsChannel reports. The fund owned 116,819 shares of the software maker’s stock after selling 61,742 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Mitek Systems were worth $1,577,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL raised its position in shares of Mitek Systems by 1,026.3% in the 3rd quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker’s stock worth $2,255,000 after purchasing an additional 210,352 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Mitek Systems during the 4th quarter valued at about $1,124,000. Impax Asset Management Group plc grew its position in Mitek Systems by 8.4% during the 4th quarter. Impax Asset Management Group plc now owns 1,295,000 shares of the software maker’s stock valued at $13,662,000 after purchasing an additional 100,000 shares during the last quarter. Skylands Capital LLC increased its stake in Mitek Systems by 34.3% during the 4th quarter. Skylands Capital LLC now owns 302,616 shares of the software maker’s stock valued at $3,193,000 after purchasing an additional 77,320 shares in the last quarter. Finally, Anson Funds Management LP bought a new stake in Mitek Systems during the 1st quarter valued at about $998,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MITK has been the subject of several recent analyst reports. Wall Street Zen cut shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research cut shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Northland Securities set a $17.00 price target on shares of Mitek Systems in a research report on Wednesday, April 15th. Finally, Weiss Ratings upgraded shares of Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Mitek Systems Price Performance

MITK opened at $17.72 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.61 and a current ratio of 2.61. The stock has a market capitalization of $800.24 million, a P/E ratio of 50.63 and a beta of 0.98. The company’s 50-day simple moving average is $17.69 and its two-hundred day simple moving average is $14.94. Mitek Systems, Inc. has a 52-week low of $8.53 and a 52-week high of $21.05.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. Mitek Systems had a net margin of 8.74% and a return on equity of 16.74%. The firm had revenue of $54.84 million for the quarter, compared to the consensus estimate of $52.59 million. As a group, analysts predict that Mitek Systems, Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, COO Garrett Gafke sold 21,108 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the sale, the chief operating officer owned 244,279 shares in the company, valued at approximately $3,466,319.01. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

About Mitek Systems

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.