Schwab Charles Investment Management Inc. continued to hold its stake in Mitek Systems, Inc. (NASDAQ:MITK) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,500 shares of the software maker’s stock at the close of the 1st quarter. Schwab Charles Investment Management Inc. owned 0.24% of Mitek Systems worth $536,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. American International Group Inc. grew its stake in Mitek Systems by 7.1% in the 1st quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock valued at $121,000 after buying an additional 1,197 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Mitek Systems by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 99,118 shares of the software maker’s stock valued at $659,000 after buying an additional 3,857 shares during the last quarter. Alambic Investment Management L.P. grew its stake in Mitek Systems by 2.6% in the 1st quarter. Alambic Investment Management L.P. now owns 160,050 shares of the software maker’s stock valued at $1,064,000 after buying an additional 3,986 shares during the last quarter. Bank of Montreal Can grew its position in shares of Mitek Systems by 28.1% during the 1st quarter. Bank of Montreal Can now owns 25,546 shares of the software maker’s stock worth $170,000 after purchasing an additional 5,608 shares in the last quarter. Finally, Cadence Capital Management LLC grew its position in shares of Mitek Systems by 4.4% during the 1st quarter. Cadence Capital Management LLC now owns 142,475 shares of the software maker’s stock worth $947,000 after purchasing an additional 5,994 shares in the last quarter. 42.70% of the stock is currently owned by institutional investors.
In other Mitek Systems news, CFO Russell C. Clark sold 39,400 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $8.25, for a total value of $325,050.00. Following the completion of the sale, the chief financial officer now directly owns 88,818 shares in the company, valued at approximately $732,748.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.52% of the stock is currently owned by corporate insiders.
Shares of Mitek Systems, Inc. (NASDAQ:MITK) opened at 9.55 on Thursday. Mitek Systems, Inc. has a 12 month low of $5.26 and a 12 month high of $10.75. The firm has a 50-day moving average of $9.90 and a 200 day moving average of $8.51. The company has a market cap of $320.74 million, a price-to-earnings ratio of 161.86 and a beta of 0.65.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. Mitek Systems had a return on equity of 10.45% and a net margin of 5.19%. The firm had revenue of $11.80 million during the quarter, compared to the consensus estimate of $11.48 million. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 29.7% compared to the same quarter last year. On average, analysts expect that Mitek Systems, Inc. will post $0.28 earnings per share for the current year.
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Several equities analysts recently commented on the stock. Benchmark Co. raised their price target on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Northland Securities restated a “buy” rating and issued a $11.00 price target on shares of Mitek Systems in a report on Tuesday, July 25th. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Roth Capital set a $12.00 price objective on shares of Mitek Systems and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $10.67.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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