UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Mitek Systems, Inc. (NASDAQ:MITK) by 23.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,899 shares of the software maker’s stock after selling 22,535 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Mitek Systems worth $623,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Mitek Systems by 357.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after buying an additional 64,509 shares during the last quarter. EVR Research LP bought a new position in shares of Mitek Systems in the second quarter valued at approximately $2,957,000. Marshall Wace LLP increased its position in shares of Mitek Systems by 251.1% during the second quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock valued at $3,456,000 after acquiring an additional 221,116 shares during the last quarter. Creative Planning bought a new stake in Mitek Systems during the third quarter worth $152,000. Finally, Foundry Partners LLC bought a new position in Mitek Systems in the 2nd quarter valued at $3,275,000. 83.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MITK has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday. 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, Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $17.00 to $9.50 in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.63.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total value of $56,433.54. Following the sale, the insider now directly owns 164,342 shares in the company, valued at $1,490,581.94. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total transaction of $30,145.60. Following the transaction, the senior vice president now owns 65,353 shares of the company’s stock, valued at $593,405.24. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,699 shares of company stock valued at $152,140 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Mitek Systems Trading Up 3.0 %

Shares of MITK opened at $11.43 on Friday. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The business has a 50-day moving average of $9.18 and a 200 day moving average of $9.92. The firm has a market cap of $492.53 million, a P/E ratio of -76.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.16. The firm had revenue of $43.22 million during the quarter, compared to the consensus estimate of $41.30 million. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. As a group, research analysts forecast that Mitek Systems, Inc. will post 0.56 EPS for the current year.

Mitek Systems 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.