Voya Investment Management LLC Trims Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

Voya Investment Management LLC trimmed its position in Mitek Systems, Inc. (NASDAQ:MITK) by 10.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,641 shares of the software maker’s stock after selling 1,737 shares during the quarter. Voya Investment Management LLC’s holdings in Mitek Systems were worth $163,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Mitek Systems by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock worth $2,280,000 after purchasing an additional 35,301 shares during the period. Barclays PLC grew its stake in shares of Mitek Systems by 335.6% in the third quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after buying an additional 60,256 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Mitek Systems in the fourth quarter valued at about $114,000. Wells Fargo & Company MN grew its stake in shares of Mitek Systems by 21.4% in the fourth quarter. Wells Fargo & Company MN now owns 31,644 shares of the software maker’s stock valued at $352,000 after buying an additional 5,574 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Mitek Systems during the 4th quarter valued at approximately $341,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Mitek Systems Stock Down 0.9%

Shares of Mitek Systems stock opened at $9.60 on Thursday. The business’s fifty day moving average price is $8.41 and its two-hundred day moving average price is $9.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The company has a market capitalization of $434.34 million, a P/E ratio of 106.67 and a beta of 1.11. Mitek Systems, Inc. has a 1-year low of $6.93 and a 1-year high of $14.18.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. The company had revenue of $51.93 million for the quarter, compared to the consensus estimate of $47.21 million. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Analyst Ratings Changes

MITK has been the subject of a number of recent analyst reports. StockNews.com upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Monday. Maxim Group lifted 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. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.88.

Insider Transactions at Mitek Systems

In related news, CEO Edward H. West bought 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost 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 of the company’s stock, valued at $506,550. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company 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.