Segall Bryant & Hamill LLC Sells 61,742 Shares of Mitek Systems, Inc. $MITK

Segall Bryant & Hamill LLC reduced its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 34.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,819 shares of the software maker’s stock after selling 61,742 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.26% of Mitek Systems worth $1,577,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MITK. Squarepoint Ops LLC lifted its stake in Mitek Systems by 2.5% in the fourth quarter. Squarepoint Ops LLC now owns 38,611 shares of the software maker’s stock worth $407,000 after acquiring an additional 944 shares during the period. Aristides Capital LLC increased its position in Mitek Systems by 4.5% during the 4th quarter. Aristides Capital LLC now owns 55,434 shares of the software maker’s stock valued at $585,000 after purchasing an additional 2,380 shares during the period. Deutsche Bank AG increased its position in Mitek Systems by 7.0% during the 4th quarter. Deutsche Bank AG now owns 37,329 shares of the software maker’s stock valued at $394,000 after purchasing an additional 2,431 shares during the period. Royal Bank of Canada raised its holdings in Mitek Systems by 21.2% in the 4th quarter. Royal Bank of Canada now owns 14,954 shares of the software maker’s stock worth $158,000 after purchasing an additional 2,615 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Mitek Systems by 17.9% in the 4th quarter. Intech Investment Management LLC now owns 19,303 shares of the software maker’s stock worth $204,000 after purchasing an additional 2,924 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Stock Performance

Shares of Mitek Systems stock opened at $17.72 on Wednesday. Mitek Systems, Inc. has a 12 month low of $8.53 and a 12 month high of $21.05. The firm has a market capitalization of $800.24 million, a P/E ratio of 50.63 and a beta of 0.98. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $17.69 and a two-hundred day simple moving average of $14.94.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, May 7th. The software maker reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The firm had revenue of $54.84 million for the quarter, compared to the consensus estimate of $52.59 million. Mitek Systems had a net margin of 8.74% and a return on equity of 16.74%. On average, equities analysts forecast that Mitek Systems, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Garrett Gafke sold 21,108 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $14.19, for a total transaction of $299,522.52. Following the sale, the chief operating officer owned 244,279 shares of the company’s stock, valued at $3,466,319.01. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MITK shares. Wall Street Zen lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Northland Securities set a $17.00 price target on shares of Mitek Systems in a research note on Wednesday, April 15th. Zacks Research lowered shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Weiss Ratings raised Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Mitek Systems has an average rating of “Hold” and a consensus target price of $16.00.

Mitek Systems Profile

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.