Mitek Systems, Inc. (MITK) Position Boosted by Northern Trust Corp
Northern Trust Corp lifted its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 8.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 364,251 shares of the software maker’s stock after buying an additional 29,761 shares during the period. Northern Trust Corp owned 1.09% of Mitek Systems worth $3,060,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in MITK. Goldman Sachs Group Inc. lifted its stake in shares of Mitek Systems by 3,097.1% during the first quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock valued at $2,431,000 after buying an additional 354,150 shares during the period. Unterberg Capital LLC increased 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 worth $3,108,000 after purchasing an additional 244,600 shares during the last quarter. Algert Global LLC acquired a new position in Mitek Systems during the second quarter worth approximately $1,356,000. Essex Investment Management Co. LLC increased its position in Mitek Systems by 73.6% during the second quarter. Essex Investment Management Co. LLC now owns 311,799 shares of the software maker’s stock worth $2,619,000 after purchasing an additional 132,238 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Mitek Systems by 8.2% during the first quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock worth $8,705,000 after purchasing an additional 99,489 shares during the last quarter. 40.48% of the stock is currently owned by institutional investors and hedge funds.
MITK has been the subject of several research analyst reports. Roth Capital set a $12.00 price target on shares of Mitek Systems and gave the stock a “buy” rating in a research report on Friday, July 28th. BidaskClub raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Mitek Systems presently has an average rating of “Buy” and a consensus target price of $10.67.
In other news, Director Bruce Edward Hansen sold 50,000 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $9.16, for a total value of $458,000.00. Following the completion of the sale, the director now owns 61,600 shares of the company’s stock, valued at $564,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Clark Sarah sold 7,741 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 110,271 shares of the company’s stock, valued at approximately $943,919.76. The disclosure for this sale can be found here. Insiders sold 140,703 shares of company stock valued at $1,242,004 in the last three months. Company insiders own 8.52% of the company’s stock.
Shares of Mitek Systems, Inc. (NASDAQ MITK) opened at $9.65 on Friday. Mitek Systems, Inc. has a 52-week low of $5.35 and a 52-week high of $10.75. The stock has a market cap of $320.38, a price-to-earnings ratio of 63.33, a PEG ratio of 4.75 and a beta of 0.69.
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 consensus estimate of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 12.72%. The company had revenue of $12.90 million during the quarter, compared to analyst estimates of $12.35 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. research analysts anticipate that Mitek Systems, Inc. will post 0.13 earnings per share for the current fiscal year.
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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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