Two Sigma Advisers LP Sells 12,400 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Two Sigma Advisers LP reduced its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,700 shares of the software maker’s stock after selling 12,400 shares during the period. Two Sigma Advisers LP owned 0.52% of Mitek Systems worth $1,700,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Meeder Asset Management Inc. grew its holdings in Mitek Systems by 444.2% in the fourth quarter. Meeder Asset Management Inc. now owns 4,294 shares of the software maker’s stock worth $32,000 after purchasing an additional 3,505 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Mitek Systems in the 4th quarter worth approximately $38,000. Bank of Montreal Can grew its stake in shares of Mitek Systems by 62.1% in the 4th quarter. Bank of Montreal Can now owns 5,246 shares of the software maker’s stock worth $40,000 after buying an additional 2,010 shares during the last quarter. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Mitek Systems in the 4th quarter worth approximately $44,000. Finally, Wellington Shields & Co. LLC bought a new position in Mitek Systems during the 4th quarter valued at approximately $94,000. 66.96% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on MITK. National Securities upgraded Mitek Systems from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, March 25th. Zacks Investment Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 7th. Roth Capital reiterated a “hold” rating and set a $9.00 price target on shares of Mitek Systems in a report on Monday, April 27th. Finally, Benchmark raised their price target on shares of Mitek Systems from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $10.44.

In related news, insider Jason Gray sold 7,237 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $9.26, for a total value of $67,014.62. Following the transaction, the insider now owns 127,541 shares of the company’s stock, valued at $1,181,029.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey C. Davison sold 11,437 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $9.85, for a total transaction of $112,654.45. Following the sale, the chief financial officer now owns 173,506 shares of the company’s stock, valued at $1,709,034.10. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

MITK opened at $9.27 on Wednesday. The company’s 50-day simple moving average is $9.47 and its two-hundred day simple moving average is $8.63. The stock has a market capitalization of $376.20 million, a P/E ratio of 84.28, a P/E/G ratio of 2.18 and a beta of 0.21. Mitek Systems, Inc. has a 52-week low of $5.26 and a 52-week high of $11.43.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, April 30th. The software maker reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. Mitek Systems had a net margin of 5.05% and a return on equity of 13.96%. The company had revenue of $23.20 million for the quarter, compared to the consensus estimate of $23.10 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts forecast that Mitek Systems, Inc. will post 0.28 earnings per share for the current fiscal year.

Mitek Systems Company Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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