Mitek Systems, Inc. (NASDAQ:MITK) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,781 shares of the software maker’s stock after buying an additional 2,460 shares during the period. Charles Schwab Investment Management Inc. owned about 0.28% of Mitek Systems worth $1,134,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC boosted its stake in shares of Mitek Systems by 259.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after acquiring an additional 553,379 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Mitek Systems during the second quarter valued at $3,275,000. EVR Research LP acquired a new position in shares of Mitek Systems in the 2nd quarter valued at $2,957,000. Marshall Wace LLP raised its holdings in Mitek Systems by 251.1% during the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after buying an additional 221,116 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Mitek Systems by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock worth $18,531,000 after buying an additional 128,282 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

MITK has been the topic of several analyst reports. Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and dropped their target price for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. HC Wainwright lifted their price objective on shares of Mitek Systems from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Mitek Systems Stock Performance

Shares of MITK opened at $10.93 on Wednesday. Mitek Systems, Inc. has a 52 week low of $7.35 and a 52 week high of $16.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46. The company has a market capitalization of $505.01 million, a PE ratio of -72.87 and a beta of 1.12. The company’s 50 day moving average price is $9.04 and its 200 day moving average price is $9.91.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The business had revenue of $43.22 million for the quarter, compared to the consensus estimate of $41.30 million. During the same period in the prior year, the business posted $0.15 earnings per share. Mitek Systems’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts expect that Mitek Systems, Inc. will post 0.56 EPS for the current fiscal year.

Insider Activity at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the sale, the senior vice president now directly owns 65,353 shares in the company, valued at approximately $593,405.24. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael E. Diamond sold 4,544 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total value of $41,304.96. Following the transaction, the insider now owns 166,632 shares in the company, valued at approximately $1,514,684.88. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is owned by corporate insiders.

Mitek Systems Company Profile

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.