US Bancorp DE decreased its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 21.1% during the first quarter, Holdings Channel reports. The firm owned 15,000 shares of the software maker’s stock after selling 4,000 shares during the period. US Bancorp DE’s holdings in Mitek Systems were worth $100,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MITK. Wells Fargo & Company MN boosted its stake in shares of Mitek Systems by 1.4% in the first quarter. Wells Fargo & Company MN now owns 1,082,949 shares of the software maker’s stock valued at $7,202,000 after buying an additional 15,188 shares in the last quarter. Skylands Capital LLC boosted its stake in shares of Mitek Systems by 55.6% in the first quarter. Skylands Capital LLC now owns 588,700 shares of the software maker’s stock valued at $3,915,000 after buying an additional 210,332 shares in the last quarter. Thomson Horstmann & Bryant Inc. acquired a new stake in shares of Mitek Systems during the first quarter valued at $3,874,000. Essex Investment Management Co. LLC boosted its stake in shares of Mitek Systems by 31.3% in the first quarter. Essex Investment Management Co. LLC now owns 179,561 shares of the software maker’s stock valued at $1,194,000 after buying an additional 42,822 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Mitek Systems by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 150,649 shares of the software maker’s stock valued at $926,000 after buying an additional 4,413 shares in the last quarter. Institutional investors own 39.11% of the company’s stock.
Shares of Mitek Systems, Inc. (NASDAQ MITK) opened at 8.45 on Tuesday. Mitek Systems, Inc. has a 12 month low of $5.26 and a 12 month high of $9.15. The company has a market cap of $282.00 million, a PE ratio of 122.46 and a beta of 1.17. The firm’s 50-day moving average is $8.48 and its 200-day moving average is $6.97.
Mitek Systems (NASDAQ:MITK) last posted its earnings results on Friday, April 28th. The software maker reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $11.40 million for the quarter, compared to the consensus estimate of $10.33 million. Mitek Systems had a net margin of 5.85% and a return on equity of 11.64%. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. On average, equities research analysts predict that Mitek Systems, Inc. will post $0.29 earnings per share for the current year.
Several brokerages recently weighed in on MITK. Zacks Investment Research cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a research note on Saturday. TheStreet raised shares of Mitek Systems from a “c+” rating to a “b” rating in a research report on Friday, April 28th. Roth Capital set a $10.00 price target on shares of Mitek Systems and gave the company a “buy” rating in a research report on Saturday, June 10th. ValuEngine raised shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Mitek Systems in a research report on Tuesday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Mitek Systems presently has a consensus rating of “Buy” and an average price target of $8.90.
In other Mitek Systems news, insider Jason Gray sold 7,789 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $8.20, for a total transaction of $63,869.80. Following the transaction, the insider now owns 87,211 shares of the company’s stock, valued at approximately $715,130.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.52% of the company’s stock.
About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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