Mitek Systems, Inc. (NASDAQ:MITK) Stock Position Decreased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 23.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,124 shares of the software maker’s stock after selling 6,348 shares during the quarter. Mitek Systems makes up about 1.5% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 27th largest holding. Mesirow Financial Investment Management Inc.’s holdings in Mitek Systems were worth $298,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MITK. Connor Clark & Lunn Investment Management Ltd. increased its position in Mitek Systems by 424.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,549 shares of the software maker’s stock worth $574,000 after buying an additional 43,345 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Mitek Systems by 4,261.7% during the fourth quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker’s stock valued at $1,521,000 after buying an additional 114,000 shares in the last quarter. Raymond James & Associates raised its holdings in Mitek Systems by 1.8% during the fourth quarter. Raymond James & Associates now owns 73,243 shares of the software maker’s stock valued at $955,000 after buying an additional 1,274 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Mitek Systems by 41.1% during the fourth quarter. Impax Asset Management Group plc now owns 720,349 shares of the software maker’s stock valued at $9,393,000 after buying an additional 210,000 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in Mitek Systems by 65.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 238,678 shares of the software maker’s stock valued at $3,112,000 after buying an additional 94,454 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Performance

Shares of MITK stock traded up $0.19 during trading hours on Wednesday, reaching $11.36. 211,637 shares of the company’s stock were exchanged, compared to its average volume of 522,981. Mitek Systems, Inc. has a fifty-two week low of $9.47 and a fifty-two week high of $16.24. The stock has a market capitalization of $531.53 million, a P/E ratio of -69.81 and a beta of 1.09. The business has a fifty day moving average price of $12.38 and a 200-day moving average price of $12.55. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.65.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Monday, May 13th. The software maker reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). Mitek Systems had a positive return on equity of 11.71% and a negative net margin of 4.49%. The business had revenue of $46.97 million for the quarter, compared to analyst estimates of $46.49 million. Analysts predict that Mitek Systems, Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Mitek Systems

In related news, Director Donna Wells sold 16,839 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $12.46, for a total value of $209,813.94. Following the completion of the transaction, the director now directly owns 38,552 shares in the company, valued at $480,357.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Donna Wells sold 16,839 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $12.46, for a total value of $209,813.94. Following the completion of the transaction, the director now directly owns 38,552 shares in the company, valued at $480,357.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher H. Briggs sold 24,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $11.10, for a total value of $266,400.00. Following the completion of the transaction, the senior vice president now owns 68,673 shares of the company’s stock, valued at $762,270.30. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Mitek Systems in a report on Tuesday, May 14th. StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Craig Hallum raised their target price on Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, April 16th.

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.