Barclays PLC Raises Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Barclays PLC raised its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 335.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 78,209 shares of the software maker's stock after purchasing an additional 60,256 shares during the period. Barclays PLC owned 0.17% of Mitek Systems worth $679,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MITK. Dimensional Fund Advisors LP lifted its stake in shares of Mitek Systems by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker's stock worth $18,531,000 after purchasing an additional 128,282 shares during the last quarter. State Street Corp lifted its position in shares of Mitek Systems by 3.8% during the third quarter. State Street Corp now owns 1,306,351 shares of the software maker's stock valued at $11,326,000 after buying an additional 47,418 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Mitek Systems by 259.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker's stock valued at $8,567,000 after buying an additional 553,379 shares in the last quarter. LSV Asset Management grew its position in shares of Mitek Systems by 0.4% in the 2nd quarter. LSV Asset Management now owns 738,799 shares of the software maker's stock worth $8,260,000 after buying an additional 2,900 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Mitek Systems during the 3rd quarter worth approximately $4,068,000. Institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

MITK has been the subject of several recent analyst reports. HC Wainwright raised their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. StockNews.com upgraded Mitek Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 25th. Finally, Jefferies Financial Group downgraded shares of Mitek Systems from a "buy" rating to a "hold" rating and cut their price objective for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Mitek Systems has a consensus rating of "Buy" and a consensus target price of $12.63.

Mitek Systems Stock Performance

MITK traded down $0.25 on Thursday, reaching $10.88. 676,081 shares of the stock were exchanged, compared to its average volume of 570,033. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. The company's 50-day moving average price is $9.59 and its 200 day moving average price is $9.87. The firm has a market capitalization of $468.83 million, a PE ratio of -72.53 and a beta of 1.12. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its earnings results on Monday, December 16th. The software maker reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.16. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The firm had revenue of $43.22 million during the quarter, compared to the consensus estimate of $41.30 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company's revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Mitek Systems, Inc. will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total transaction of $30,145.60. Following the sale, the senior vice president now directly owns 65,353 shares of the company's stock, valued at $593,405.24. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Gray sold 6,222 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the transaction, the insider now directly owns 164,342 shares of the company's stock, valued at $1,490,581.94. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,699 shares of company stock worth $152,140. Company insiders own 2.10% of the company's stock.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.