Bank of New York Mellon Corp Sells 3,012 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Bank of New York Mellon Corp lessened its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,952 shares of the software maker’s stock after selling 3,012 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Mitek Systems worth $1,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MITK. Avior Wealth Management LLC bought a new stake in shares of Mitek Systems during the third quarter valued at approximately $60,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Mitek Systems during the fourth quarter valued at approximately $114,000. Intech Investment Management LLC bought a new stake in shares of Mitek Systems during the third quarter valued at approximately $117,000. Lazari Capital Management Inc. bought a new stake in shares of Mitek Systems during the fourth quarter valued at approximately $117,000. Finally, Kingsview Wealth Management LLC raised its stake in shares of Mitek Systems by 16.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock valued at $230,000 after acquiring an additional 2,865 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

MITK has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research note on Tuesday, February 11th. StockNews.com downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Maxim Group boosted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

Mitek Systems Price Performance

NASDAQ MITK opened at $9.17 on Friday. The firm’s fifty day simple moving average is $9.74 and its two-hundred day simple moving average is $9.46. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24. The firm has a market capitalization of $414.89 million, a P/E ratio of 101.89 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Edward H. West purchased 55,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $9.21 per share, with a total value of $506,550.00. Following the completion of the acquisition, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

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.