Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,911 shares of the software maker’s stock, valued at approximately $29,000.
A number of other large investors have also added to or reduced their stakes in the business. Independent Advisor Alliance grew its stake in Mitek Systems by 1.6% during the 1st quarter. Independent Advisor Alliance now owns 634,420 shares of the software maker’s stock valued at $7,765,000 after acquiring an additional 10,075 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mitek Systems by 35.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 465,110 shares of the software maker’s stock valued at $5,028,000 after buying an additional 122,944 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Mitek Systems by 48.8% during the 1st quarter. Marshall Wace LLP now owns 245,032 shares of the software maker’s stock valued at $2,999,000 after buying an additional 80,342 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Mitek Systems by 166.1% during the 1st quarter. Granite Investment Partners LLC now owns 243,952 shares of the software maker’s stock valued at $2,986,000 after buying an additional 152,289 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. acquired a new stake in shares of Mitek Systems during the 2nd quarter valued at about $2,118,000. 59.10% of the stock is currently owned by institutional investors.
In other news, CFO Jeffrey C. Davison sold 13,077 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $9.55, for a total transaction of $124,885.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Ritter sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.93, for a total value of $148,950.00. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on MITK shares. Roth Capital set a $14.00 price target on Mitek Systems and gave the company a “buy” rating in a report on Friday, July 19th. BidaskClub upgraded Mitek Systems from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. ValuEngine lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday. National Securities reiterated a “buy” rating and set a $20.00 price target on shares of Mitek Systems in a report on Thursday, May 2nd. Finally, Benchmark reiterated a “buy” rating and set a $14.00 price target (down from $15.00) on shares of Mitek Systems in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $14.75.
MITK traded down $0.28 on Friday, hitting $9.35. The company had a trading volume of 3,818 shares, compared to its average volume of 305,078. The company’s fifty day moving average price is $10.08 and its 200 day moving average price is $10.68. Mitek Systems, Inc. has a 1-year low of $6.32 and a 1-year high of $13.07. The stock has a market cap of $386.93 million, a price-to-earnings ratio of 72.54, a price-to-earnings-growth ratio of 4.00 and a beta of -0.25.
Mitek Systems (NASDAQ:MITK) last posted its earnings results on Thursday, July 25th. The software maker reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. The firm had revenue of $21.91 million during the quarter, compared to analyst estimates of $21.74 million. During the same period in the previous year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. Analysts expect that Mitek Systems, Inc. will post 0.16 earnings per share for the current fiscal year.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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