Prudential Financial Inc. acquired a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,660 shares of the software maker’s stock, valued at approximately $101,000.

A number of other hedge funds have also added to or reduced their stakes in MITK. TIAA CREF Investment Management LLC lifted its position in Mitek Systems by 43.9% during the first quarter. TIAA CREF Investment Management LLC now owns 122,135 shares of the software maker’s stock valued at $812,000 after purchasing an additional 37,271 shares during the last quarter. Vanguard Group Inc. lifted 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 valued at $8,705,000 after purchasing an additional 99,489 shares during the last quarter. Geode Capital Management LLC lifted its position in Mitek Systems by 3.5% during the first quarter. Geode Capital Management LLC now owns 241,802 shares of the software maker’s stock valued at $1,607,000 after purchasing an additional 8,185 shares during the last quarter. Bank of America Corp DE lifted its position in Mitek Systems by 2.1% during the first quarter. Bank of America Corp DE now owns 23,382 shares of the software maker’s stock valued at $156,000 after purchasing an additional 490 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Mitek Systems by 16.6% during the second quarter. Russell Investments Group Ltd. now owns 83,741 shares of the software maker’s stock valued at $703,000 after purchasing an additional 11,943 shares during the last quarter. Institutional investors and hedge funds own 43.56% of the company’s stock.

In other news, insider Michael E. Diamond sold 4,854 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total value of $41,744.40. Following the sale, the insider now owns 167,499 shares of the company’s stock, valued at $1,440,491.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James B. Debello sold 10,313 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total transaction of $88,691.80. Following the completion of the sale, the chief executive officer now directly owns 909,903 shares in the company, valued at approximately $7,825,165.80. The disclosure for this sale can be found here. In the last three months, insiders sold 205,942 shares of company stock worth $1,812,527. Insiders own 8.52% of the company’s stock.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. BidaskClub lowered shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 6th. Two 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’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.80.

Shares of Mitek Systems, Inc. (NASDAQ:MITK) opened at $8.57 on Thursday. Mitek Systems, Inc. has a 12 month low of $5.50 and a 12 month high of $10.75. The firm has a market cap of $299.06, a price-to-earnings ratio of 57.33, a PEG ratio of 4.30 and a beta of 0.64.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The business had revenue of $12.90 million for the quarter, compared to the consensus estimate of $12.35 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. analysts anticipate that Mitek Systems, Inc. will post 0.13 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Prudential Financial Inc. Acquires New Stake in Mitek Systems, Inc. (MITK)” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.watchlistnews.com/prudential-financial-inc-acquires-new-stake-in-mitek-systems-inc-mitk/1762802.html.

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.

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

Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with Analyst Ratings Network's FREE daily email newsletter.