Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC decreased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 10.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 285,080 shares of the software maker’s stock after selling 32,325 shares during the quarter. Sargent Investment Group LLC’s holdings in Mitek Systems were worth $3,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Mitek Systems by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock valued at $18,531,000 after buying an additional 128,282 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of Mitek Systems by 259.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after purchasing an additional 553,379 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Mitek Systems in the 2nd quarter worth approximately $529,000. Perritt Capital Management Inc acquired a new stake in Mitek Systems during the second quarter valued at approximately $559,000. Finally, Wedbush Securities Inc. boosted its holdings in Mitek Systems by 13.1% during the second quarter. Wedbush Securities Inc. now owns 25,875 shares of the software maker’s stock worth $289,000 after buying an additional 3,000 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Mitek Systems Stock Performance

NASDAQ:MITK opened at $8.41 on Tuesday. The firm’s 50-day moving average is $10.37 and its 200-day moving average is $11.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46. The company has a market cap of $393.51 million, a price-to-earnings ratio of -52.56 and a beta of 1.07. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week high of $16.24.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The business had revenue of $45.00 million during the quarter, compared to analyst estimates of $47.99 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Mitek Systems, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

MITK has been the topic of several research reports. Maxim Group dropped their price target on Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. HC Wainwright decreased their target price on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, Craig Hallum cut their target price on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.13.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.