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

Vanguard Group Inc. cut its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,554,818 shares of the software maker’s stock after selling 83,856 shares during the period. Vanguard Group Inc. owned about 0.08% of Mitek Systems worth $39,565,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in Mitek Systems during the fourth quarter worth approximately $105,000. Semanteon Capital Management LP acquired a new position in shares of Mitek Systems in the 4th quarter valued at $341,000. Tocqueville Asset Management L.P. grew its position in shares of Mitek Systems by 45.4% in the 4th quarter. Tocqueville Asset Management L.P. now owns 256,300 shares of the software maker’s stock valued at $2,853,000 after buying an additional 80,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Mitek Systems during the 4th quarter worth $1,259,000. Finally, Raymond James Financial Inc. purchased a new stake in Mitek Systems in the fourth quarter valued at $341,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Edward H. West acquired 55,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the transaction, the chief executive officer now owns 55,000 shares in the company, valued at $506,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Mitek Systems Price Performance

Shares of MITK opened at $7.81 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $16.24. The firm has a 50-day simple moving average of $9.03 and a 200-day simple moving average of $9.40. The company has a market capitalization of $353.36 million, a price-to-earnings ratio of 86.78 and a beta of 1.15.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. On average, equities research analysts anticipate that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MITK. Maxim Group raised their price objective on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.88.

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.