Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,554,818 shares of the software maker's stock after selling 83,856 shares during the period. Vanguard Group Inc. owned approximately 7.86% of Mitek Systems worth $39,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Avior Wealth Management LLC raised its stake in shares of Mitek Systems by 24.7% in the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock valued at $96,000 after acquiring an additional 1,700 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker's stock valued at $1,134,000 after buying an additional 2,460 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Mitek Systems by 4.0% in the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker's stock valued at $640,000 after purchasing an additional 2,806 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Mitek Systems by 16.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock valued at $230,000 after acquiring an additional 2,865 shares during the period. Finally, SG Americas Securities LLC increased its stake in Mitek Systems by 24.8% in the fourth quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker's stock valued at $237,000 after purchasing an additional 4,237 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MITK has been the topic of a number of analyst reports. StockNews.com lowered shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, Maxim Group boosted their target price on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $12.88.

Insider Buying and Selling

In related news, CEO Edward H. West purchased 55,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were bought at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Mitek Systems Price Performance

Mitek Systems stock traded down $0.05 during mid-day trading on Thursday, hitting $7.73. 39,182 shares of the company were exchanged, compared to its average volume of 505,056. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. Mitek Systems, Inc. has a 12-month low of $6.93 and a 12-month high of $14.32. The business's 50 day simple moving average is $8.88 and its two-hundred day simple moving average is $9.38. The company has a market capitalization of $349.69 million, a P/E ratio of 85.73 and a beta of 1.15.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Mitek Systems Company 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.