Teachers Advisors LLC boosted its position in Mitek Systems, Inc. (NASDAQ:MITK) by 12.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 57,628 shares of the software maker’s stock after purchasing an additional 6,240 shares during the period. Teachers Advisors LLC owned about 0.17% of Mitek Systems worth $484,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in Mitek Systems by 148.0% in the 2nd quarter. Alliancebernstein L.P. now owns 36,700 shares of the software maker’s stock valued at $308,000 after purchasing an additional 21,900 shares during the last quarter. Unterberg Capital LLC lifted its stake in Mitek Systems by 195.1% in the 2nd quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock valued at $3,108,000 after purchasing an additional 244,600 shares during the last quarter. Renaissance Group LLC lifted its stake in Mitek Systems by 1.2% in the 2nd quarter. Renaissance Group LLC now owns 54,110 shares of the software maker’s stock valued at $455,000 after purchasing an additional 620 shares during the last quarter. Burt Wealth Advisors acquired a new stake in Mitek Systems in the 2nd quarter valued at about $105,000. Finally, Federated Investors Inc. PA lifted its position in Mitek Systems by 150.9% during the second quarter. Federated Investors Inc. PA now owns 31,918 shares of the software maker’s stock worth $268,000 after acquiring an additional 19,197 shares during the last quarter. Institutional investors and hedge funds own 42.50% of the company’s stock.
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In other news, insider Michael E. Diamond sold 4,854 shares of Mitek Systems stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total transaction of $41,744.40. Following the transaction, the insider now owns 167,499 shares in the company, valued at $1,440,491.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James B. Debello sold 10,313 shares of Mitek Systems stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $8.60, for a total transaction of $88,691.80. Following the transaction, the chief executive officer now owns 909,903 shares in the company, valued at approximately $7,825,165.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,649 shares of company stock worth $134,581. 8.52% of the stock is owned by company insiders.
Several brokerages have issued reports on MITK. Benchmark Co. raised their price objective on shares of Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Northland Securities restated a “buy” rating and set a $11.00 price objective on shares of Mitek Systems in a research report on Tuesday, July 25th. BidaskClub raised 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 target price on shares of Mitek Systems and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Mitek Systems presently has a consensus rating of “Buy” and an average target price of $10.67.
Shares of Mitek Systems, Inc. (NASDAQ MITK) opened at $9.00 on Friday. The firm has a market cap of $303.52, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 3.40 and a beta of 0.69. Mitek Systems, Inc. has a one year low of $5.26 and a one year high of $10.75.
Mitek Systems (NASDAQ:MITK) last posted its earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $12.90 million for the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a net margin of 31.05% and a return on equity of 12.72%. The company’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. equities analysts predict that Mitek Systems, Inc. will post 0.13 earnings per share for the current fiscal year.
Mitek Systems 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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