Mitek Systems, Inc. (MITK) Shares Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lifted its position in Mitek Systems, Inc. (NASDAQ:MITK) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 364,736 shares of the software maker’s stock after purchasing an additional 52,937 shares during the quarter. Essex Investment Management Co. LLC owned about 1.09% of Mitek Systems worth $3,465,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Mitek Systems by 5.0% during the second quarter. Vanguard Group Inc. now owns 1,374,109 shares of the software maker’s stock valued at $11,543,000 after acquiring an additional 65,065 shares in the last quarter. Archon Capital Management LLC raised its position in Mitek Systems by 70.4% during the second quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock valued at $7,215,000 after acquiring an additional 354,952 shares in the last quarter. Thomson Horstmann & Bryant Inc. raised its position in Mitek Systems by 11.4% during the second quarter. Thomson Horstmann & Bryant Inc. now owns 649,330 shares of the software maker’s stock valued at $5,454,000 after acquiring an additional 66,688 shares in the last quarter. State Street Corp raised its position in Mitek Systems by 7.6% during the second quarter. State Street Corp now owns 514,403 shares of the software maker’s stock valued at $4,322,000 after acquiring an additional 36,397 shares in the last quarter. Finally, Unterberg Capital LLC raised its position in Mitek Systems by 195.1% during the second quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock valued at $3,108,000 after acquiring an additional 244,600 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

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Several brokerages recently weighed in on MITK. BidaskClub cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Roth Capital set a $12.00 price target on Mitek Systems and gave the company a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research report on Friday, July 14th. Northland Securities reiterated a “buy” rating and set a $11.00 price target on shares of Mitek Systems in a research report on Tuesday, July 25th. Finally, Benchmark Co. lifted their price target on Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $10.67.

Mitek Systems Profile

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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