Morgan Stanley Has $623,000 Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

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Morgan Stanley lessened its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 76.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,700 shares of the software maker’s stock after selling 205,479 shares during the quarter. Morgan Stanley owned about 0.16% of Mitek Systems worth $623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aperio Group LLC acquired a new position in shares of Mitek Systems during the second quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Mitek Systems during the second quarter valued at $29,000. Bank of Montreal Can lifted its stake in shares of Mitek Systems by 12,019.2% during the second 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 during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Mitek Systems during the second quarter valued at $100,000. Finally, Wedbush Securities Inc. lifted its stake in shares of Mitek Systems by 20.0% during the second quarter. Wedbush Securities Inc. now owns 12,000 shares of the software maker’s stock valued at $119,000 after acquiring an additional 2,000 shares during the period. 61.38% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Jason Gray sold 8,753 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $9.84, for a total transaction of $86,129.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael E. Diamond sold 3,868 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $9.48, for a total value of $36,668.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,046 shares of company stock valued at $136,307. 8.20% of the stock is owned by corporate insiders.

NASDAQ MITK opened at $8.10 on Friday. The company has a market capitalization of $390.92 million, a PE ratio of 62.31, a P/E/G ratio of 2.59 and a beta of -0.20. Mitek Systems, Inc. has a 12 month low of $8.01 and a 12 month high of $13.07. The stock has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $10.02.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.09. The business had revenue of $25.02 million during the quarter, compared to the consensus estimate of $25.02 million. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. Mitek Systems’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. On average, equities research analysts predict that Mitek Systems, Inc. will post 0.16 EPS for the current year.

Several equities analysts have recently issued reports on MITK shares. ValuEngine lowered Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Roth Capital set a $14.00 price target on Mitek Systems and gave the company a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research lowered Mitek Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, BidaskClub lowered Mitek Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.75.

Mitek Systems 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.

See Also: NASDAQ Stock Market Explained

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

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