Mitek Systems, Inc. (NASDAQ:MITK) Holdings Decreased by Sargent Investment Group LLC

Sargent Investment Group LLC decreased its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,155 shares of the software maker’s stock after selling 42,450 shares during the quarter. Sargent Investment Group LLC owned 0.49% of Mitek Systems worth $2,123,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazari Capital Management Inc. bought a new position in shares of Mitek Systems in the fourth quarter worth about $117,000. Avior Wealth Management LLC boosted its holdings 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 worth $96,000 after acquiring an additional 1,700 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Mitek Systems by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker’s stock worth $237,000 after purchasing an additional 4,237 shares during the last quarter. JPMorgan Chase & Co. increased its position in Mitek Systems by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock valued at $2,280,000 after acquiring an additional 35,301 shares in the last quarter. Finally, Barclays PLC increased its holdings 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 purchasing an additional 60,256 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael E. Diamond sold 4,544 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total value of $41,304.96. Following the transaction, the insider now owns 166,632 shares of the company’s stock, valued at approximately $1,514,684.88. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total transaction of $30,145.60. Following the completion of the sale, the senior vice president now owns 65,353 shares in the company, valued at approximately $593,405.24. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,699 shares of company stock valued at $152,140 over the last quarter. 2.10% of the stock is owned by company insiders.

Mitek Systems Stock Performance

Shares of MITK opened at $10.11 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.39 and a quick ratio of 4.39. The firm has a market cap of $457.28 million, a PE ratio of 168.50 and a beta of 1.08. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The stock’s fifty day moving average price is $10.21 and its two-hundred day moving average price is $9.67.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.16. The firm had revenue of $43.22 million during the quarter, compared to the consensus estimate of $41.30 million. Mitek Systems had a return on equity of 16.64% and a net margin of 1.90%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. On average, equities research analysts forecast that Mitek Systems, Inc. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MITK. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 25th. HC Wainwright upped their price objective on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Mitek Systems has a consensus rating of “Buy” and a consensus price target of $12.63.

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.