IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stake in Mitek Systems, Inc. $MITK

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 8.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 119,289 shares of the software maker’s stock after selling 10,751 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Mitek Systems were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MITK. Bank of New York Mellon Corp lifted its stake in Mitek Systems by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,803 shares of the software maker’s stock valued at $1,236,000 after acquiring an additional 1,851 shares during the period. CWM LLC increased its stake in shares of Mitek Systems by 11.6% in the second quarter. CWM LLC now owns 22,696 shares of the software maker’s stock worth $225,000 after acquiring an additional 2,351 shares during the period. Rhumbline Advisers raised its holdings in shares of Mitek Systems by 3.8% during the first quarter. Rhumbline Advisers now owns 65,999 shares of the software maker’s stock worth $544,000 after purchasing an additional 2,396 shares during the last quarter. Sargent Investment Group LLC lifted its position in Mitek Systems by 2.4% during the first quarter. Sargent Investment Group LLC now owns 214,155 shares of the software maker’s stock valued at $1,767,000 after purchasing an additional 5,000 shares during the period. Finally, Pandora Wealth Inc. acquired a new position in Mitek Systems during the first quarter valued at $41,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Stock Performance

MITK stock opened at $9.43 on Wednesday. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $11.78. The firm’s fifty day moving average is $9.80 and its 200 day moving average is $9.50. The firm has a market cap of $430.48 million, a PE ratio of 28.58 and a beta of 1.07.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Tuesday, June 3rd. The software maker reported $0.36 earnings per share for the quarter. Mitek Systems had a net margin of 8.71% and a return on equity of 17.26%. The business had revenue of $51.93 million during the quarter. Research analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MITK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mitek Systems in a research report on Tuesday, October 14th. Wall Street Zen downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.50.

About Mitek Systems

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.