Wellington Management Group LLP cut its position in shares of Mitek Systems, Inc. (NASDAQ:MITK – Free Report) by 16.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 784,981 shares of the software maker’s stock after selling 155,170 shares during the period. Wellington Management Group LLP’s holdings in Mitek Systems were worth $6,806,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of Mitek Systems by 357.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after acquiring an additional 64,509 shares during the last quarter. EVR Research LP bought a new stake in shares of Mitek Systems in the 2nd quarter valued at approximately $2,957,000. Marshall Wace LLP boosted its holdings in shares of Mitek Systems by 251.1% in the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after purchasing an additional 221,116 shares during the period. Creative Planning bought a new position in shares of Mitek Systems during the 3rd quarter valued at approximately $152,000. Finally, Foundry Partners LLC purchased a new stake in Mitek Systems during the 2nd quarter valued at $3,275,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Mitek Systems Stock Up 8.1 %
NASDAQ:MITK opened at $9.49 on Tuesday. The company has a market cap of $438.48 million, a price-to-earnings ratio of -63.27 and a beta of 1.12. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $9.91.
Insider Activity at Mitek Systems
In other Mitek Systems news, SVP Christopher H. Briggs sold 3,320 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the sale, the senior vice president now directly owns 65,353 shares in the company, valued at approximately $593,405.24. This represents a 4.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael E. Diamond sold 4,544 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total value of $41,304.96. Following the transaction, the insider now owns 166,632 shares in the company, valued at approximately $1,514,684.88. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,699 shares of company stock worth $152,140. Company insiders own 2.10% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Mitek Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.
Read Our Latest Report on MITK
About Mitek Systems
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.
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