Chevy Chase Trust Holdings Inc. acquired a new stake in Mitek Systems, Inc. (NASDAQ:MITK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,750 shares of the software maker’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Mitek Systems by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,374,109 shares of the software maker’s stock valued at $11,543,000 after buying an additional 65,065 shares in the last quarter. Archon Capital Management LLC raised its position in shares of Mitek Systems by 70.4% in the 2nd quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock valued at $7,215,000 after buying an additional 354,952 shares in the last quarter. State Street Corp raised its position in shares of Mitek Systems by 7.6% in the 2nd quarter. State Street Corp now owns 514,403 shares of the software maker’s stock valued at $4,322,000 after buying an additional 36,397 shares in the last quarter. Unterberg Capital LLC raised its position in shares of Mitek Systems by 195.1% in the 2nd quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock valued at $3,108,000 after buying an additional 244,600 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its position in shares of Mitek Systems by 17.0% in the 3rd quarter. Essex Investment Management Co. LLC now owns 364,736 shares of the software maker’s stock valued at $3,465,000 after buying an additional 52,937 shares in the last quarter. 43.56% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on MITK shares. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $10.80.

In related news, CEO James B. Debello sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $8.50, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 893,887 shares in the company, valued at approximately $7,598,039.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Clark Sarah sold 7,741 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $8.56, for a total transaction of $66,262.96. Following the transaction, the vice president now owns 110,271 shares of the company’s stock, valued at $943,919.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,942 shares of company stock valued at $1,812,527. 8.52% of the stock is owned by corporate insiders.

Mitek Systems, Inc. (NASDAQ MITK) opened at $8.70 on Monday. The company has a market cap of $302.54, a P/E ratio of 58.00, a PEG ratio of 4.35 and a beta of 0.63. Mitek Systems, Inc. has a 12-month low of $5.50 and a 12-month high of $10.75.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The business had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. equities research analysts forecast that Mitek Systems, Inc. will post 0.13 EPS for the current year.

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

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