Mitek Systems, Inc. $MITK Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 324,600 shares of the software maker’s stock after selling 50,700 shares during the quarter. Skylands Capital LLC owned about 0.72% of Mitek Systems worth $5,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ellsworth Advisors LLC bought a new stake in Mitek Systems during the 3rd quarter valued at approximately $892,000. State of Alaska Department of Revenue grew its holdings in shares of Mitek Systems by 8.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,744 shares of the software maker’s stock worth $148,000 after acquiring an additional 669 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Mitek Systems during the 2nd quarter worth approximately $42,000. Squarepoint Ops LLC raised its position in shares of Mitek Systems by 97.0% in the 2nd quarter. Squarepoint Ops LLC now owns 137,963 shares of the software maker’s stock worth $2,777,000 after acquiring an additional 67,930 shares in the last quarter. Finally, Corient Private Wealth LP bought a new position in shares of Mitek Systems in the 2nd quarter worth approximately $668,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Up 3.4%

Shares of Mitek Systems stock opened at $18.13 on Thursday. Mitek Systems, Inc. has a 1 year low of $8.53 and a 1 year high of $21.05. The firm has a market cap of $818.06 million, a price-to-earnings ratio of 38.58 and a beta of 0.94. The company has a 50-day moving average of $17.73 and a 200 day moving average of $16.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.74 and a quick ratio of 2.74.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. Mitek Systems had a net margin of 11.39% and a return on equity of 19.16%. The business had revenue of $54.04 million for the quarter, compared to analyst estimates of $50.82 million. As a group, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MITK. Zacks Research cut Mitek Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Mitek Systems in a research report on Friday, August 7th. Maxim Group set a $26.00 price target on Mitek Systems in a research note on Friday, August 7th. Finally, Wall Street Zen raised Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Mitek Systems currently has an average rating of “Hold” and a consensus target price of $19.33.

Mitek Systems Company Profile

Mitek Systems, Inc (NASDAQ:MITK) develops software for digital identity verification, fraud prevention and mobile banking. Its technology enables organizations to verify individuals and documents remotely, helping businesses establish trust in digital transactions while reducing identity-related risk.

The company’s products include digital identity verification solutions, document verification and authentication tools, biometric technologies, and fraud detection capabilities. Mitek also provides mobile deposit technology, which allows consumers to deposit checks by capturing images with a smartphone or other mobile device.