BNP Paribas Financial Markets Raises Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

BNP Paribas Financial Markets boosted its stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 357.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,578 shares of the software maker's stock after purchasing an additional 64,509 shares during the quarter. BNP Paribas Financial Markets owned about 0.18% of Mitek Systems worth $716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EVR Research LP acquired a new position in shares of Mitek Systems during the second quarter worth approximately $2,957,000. Marshall Wace LLP raised its holdings in Mitek Systems by 251.1% during the second quarter. Marshall Wace LLP now owns 309,163 shares of the software maker's stock worth $3,456,000 after buying an additional 221,116 shares during the last quarter. Creative Planning bought a new position in shares of Mitek Systems in the third quarter valued at $152,000. Foundry Partners LLC acquired a new position in shares of Mitek Systems during the second quarter valued at about $3,275,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Mitek Systems during the third quarter worth about $506,000. 83.64% of the stock is owned by institutional investors.

Mitek Systems Stock Down 1.3 %

MITK stock traded down $0.12 during trading on Friday, reaching $8.78. The stock had a trading volume of 793,824 shares, compared to its average volume of 536,744. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24. The company's 50 day moving average is $9.02 and its two-hundred day moving average is $10.00.

Analysts Set New Price Targets

Several brokerages recently weighed in on MITK. Jefferies Financial Group cut shares of Mitek Systems from a "buy" rating to a "hold" rating and dropped their price target for the company from $17.00 to $9.50 in a research report on Wednesday, September 4th. StockNews.com upgraded Mitek Systems from a "hold" rating to a "buy" rating in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.13.

Insider Transactions at Mitek Systems

In related news, insider Michael E. Diamond sold 4,544 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total transaction of $41,304.96. Following the completion of the sale, the insider now owns 166,632 shares in the company, valued at approximately $1,514,684.88. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jason Gray sold 6,222 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the transaction, the insider now owns 164,342 shares in the company, valued at approximately $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. Insiders have sold 16,699 shares of company stock worth $152,140 in the last 90 days. Insiders own 2.10% of the company's stock.

Mitek Systems Profile

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.