Cubist Systematic Strategies LLC Sells 17,793 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

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Cubist Systematic Strategies LLC lessened its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 45.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,521 shares of the software maker’s stock after selling 17,793 shares during the period. Cubist Systematic Strategies LLC’s holdings in Mitek Systems were worth $214,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its holdings in shares of Mitek Systems by 20.0% during the 2nd quarter. Wedbush Securities Inc. now owns 12,000 shares of the software maker’s stock valued at $119,000 after purchasing an additional 2,000 shares in the last quarter. Aperio Group LLC bought a new stake in Mitek Systems in the 2nd quarter valued at approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Mitek Systems in the 2nd quarter valued at approximately $29,000. Bank of Montreal Can lifted its stake in Mitek Systems by 12,019.2% in the 2nd quarter. Bank of Montreal Can now owns 3,151 shares of the software maker’s stock valued at $31,000 after acquiring an additional 3,125 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Mitek Systems by 22.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 20,380 shares of the software maker’s stock valued at $202,000 after acquiring an additional 3,675 shares in the last quarter. Institutional investors and hedge funds own 61.46% of the company’s stock.

In other news, 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 transaction of $148,950.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Gray sold 8,753 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $9.84, for a total value of $86,129.52. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

Several equities research analysts have commented on MITK shares. Zacks Investment Research upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Saturday. BidaskClub upgraded Mitek Systems from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. ValuEngine cut Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Roth Capital set a $14.00 target price on Mitek Systems and gave the company a “buy” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $14.75.

NASDAQ MITK opened at $9.79 on Tuesday. The stock has a market capitalization of $404.98 million, a price-to-earnings ratio of 75.31, a PEG ratio of 2.69 and a beta of -0.16. The stock’s 50 day moving average price is $9.83 and its two-hundred day moving average price is $10.32. Mitek Systems, Inc. has a 52 week low of $7.61 and a 52 week high of $13.07.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, July 25th. The software maker reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $21.91 million for the quarter, compared to analysts’ expectations of $21.74 million. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. Sell-side analysts forecast that Mitek Systems, Inc. will post 0.16 earnings per share for the current fiscal year.

Mitek Systems Company Profile

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.

Further Reading: What is the Beige Book?

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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