Barclays PLC Boosts Position in Mitek Systems, Inc. (NASDAQ:MITK)

Barclays PLC raised its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 335.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,209 shares of the software maker’s stock after buying an additional 60,256 shares during the period. Barclays PLC owned about 0.18% of Mitek Systems worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC raised its stake in shares of Mitek Systems by 25.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after acquiring an additional 1,300 shares in the last quarter. Avior Wealth Management LLC bought a new stake in Mitek Systems during the 3rd quarter valued at $60,000. Intech Investment Management LLC bought a new stake in Mitek Systems during the 3rd quarter valued at $117,000. Squarepoint Ops LLC purchased a new stake in shares of Mitek Systems in the 2nd quarter worth $138,000. Finally, SG Americas Securities LLC bought a new position in shares of Mitek Systems during the 3rd quarter worth $148,000. 83.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jason Gray sold 6,222 shares of Mitek Systems 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 completion of the sale, the insider now directly owns 164,342 shares in the company, valued at $1,490,581.94. This trade represents a 3.65 % 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 Michael E. Diamond sold 4,544 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total transaction of $41,304.96. Following the sale, the insider now directly owns 166,632 shares in the company, valued at approximately $1,514,684.88. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is currently owned by insiders.

Mitek Systems Price Performance

MITK opened at $9.97 on Friday. The firm has a market capitalization of $429.61 million, a PE ratio of 166.17 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.39 and a quick ratio of 4.39. The business’s 50-day moving average is $9.95 and its two-hundred day moving average is $9.82. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Monday, December 16th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16. The firm had revenue of $43.22 million for the quarter, compared to the consensus estimate of $41.30 million. Mitek Systems had a net margin of 1.90% and a return on equity of 16.64%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. Research analysts anticipate that Mitek Systems, Inc. will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.