Harbor Capital Advisors Inc. Has $99,000 Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Harbor Capital Advisors Inc. decreased its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 33.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,908 shares of the software maker’s stock after selling 4,429 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Mitek Systems were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Invenomic Capital Management LP acquired a new stake in shares of Mitek Systems during the third quarter worth about $4,068,000. EVR Research LP acquired a new stake in Mitek Systems during the 2nd quarter worth approximately $2,957,000. Marshall Wace LLP lifted its stake in Mitek Systems by 251.1% in the second quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock valued at $3,456,000 after buying an additional 221,116 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mitek Systems by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock valued at $18,531,000 after buying an additional 128,282 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Mitek Systems in the third quarter valued at approximately $680,000. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Down 0.6 %

Shares of MITK stock opened at $10.15 on Thursday. The firm’s fifty day moving average price is $9.94 and its two-hundred day moving average price is $9.81. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The firm has a market capitalization of $437.37 million, a P/E ratio of -67.67 and a beta of 1.06.

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

Analyst Ratings Changes

Several research firms recently commented on MITK. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. HC Wainwright boosted their price target on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $12.63.

Insider Activity

In other news, SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction dated 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 directly owns 65,353 shares in the company, valued at $593,405.24. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Gray sold 6,222 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the sale, the insider now owns 164,342 shares of the company’s stock, valued at $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is owned by insiders.

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.