Thomson Horstmann & Bryant Inc. boosted its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 12.5% in the fourth quarter, Holdings Channel reports. The firm owned 654,553 shares of the software maker’s stock after acquiring an additional 72,755 shares during the period. Thomson Horstmann & Bryant Inc.’s holdings in Mitek Systems were worth $5,858,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Mitek Systems by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,374,109 shares of the software maker’s stock valued at $11,543,000 after purchasing an additional 65,065 shares during the last quarter. Archon Capital Management LLC increased its holdings in Mitek Systems by 70.4% in the second quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock valued at $7,215,000 after purchasing an additional 354,952 shares during the last quarter. State Street Corp increased its holdings in Mitek Systems by 7.6% in the second quarter. State Street Corp now owns 514,403 shares of the software maker’s stock valued at $4,322,000 after purchasing an additional 36,397 shares during the last quarter. Independent Advisor Alliance bought a new stake in Mitek Systems in the third quarter valued at about $4,185,000. Finally, Essex Investment Management Co. LLC increased its holdings in Mitek Systems by 17.0% in the third quarter. Essex Investment Management Co. LLC now owns 364,736 shares of the software maker’s stock valued at $3,465,000 after purchasing an additional 52,937 shares during the last quarter. Institutional investors and hedge funds own 43.53% of the company’s stock.
In other Mitek Systems news, insider Stephen Ritter sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $9.57, for a total value of $95,700.00. Following the completion of the transaction, the insider now directly owns 227,937 shares of the company’s stock, valued at $2,181,357.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James B. Debello sold 28,361 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $8.91, for a total value of $252,696.51. Following the completion of the transaction, the chief executive officer now directly owns 844,726 shares of the company’s stock, valued at $7,526,508.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 234,303 shares of company stock valued at $2,065,223. Insiders own 8.52% of the company’s stock.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.35 million. Mitek Systems had a return on equity of 95.96% and a net margin of 99.71%. The firm’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. equities analysts expect that Mitek Systems, Inc. will post 0.13 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on MITK shares. BidaskClub downgraded Mitek Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 6th. Zacks Investment Research downgraded Mitek Systems from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $10.80.
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About Mitek Systems
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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