Mitek Systems, Inc. $MITK Shares Sold by State of Wyoming

State of Wyoming decreased its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 62.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,021 shares of the software maker’s stock after selling 39,663 shares during the period. State of Wyoming’s holdings in Mitek Systems were worth $324,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tudor Investment Corp ET AL lifted its stake in shares of Mitek Systems by 1,026.3% during the third quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker’s stock worth $2,255,000 after buying an additional 210,352 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Mitek Systems in the fourth quarter worth about $1,124,000. Impax Asset Management Group plc raised its position in Mitek Systems by 8.4% during the fourth quarter. Impax Asset Management Group plc now owns 1,295,000 shares of the software maker’s stock valued at $13,662,000 after acquiring an additional 100,000 shares in the last quarter. Skylands Capital LLC lifted its holdings in Mitek Systems by 34.3% in the fourth quarter. Skylands Capital LLC now owns 302,616 shares of the software maker’s stock valued at $3,193,000 after acquiring an additional 77,320 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in Mitek Systems by 4.5% in the fourth quarter. Independent Advisor Alliance now owns 1,225,119 shares of the software maker’s stock valued at $12,925,000 after acquiring an additional 53,016 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Mitek Systems Stock Performance

NASDAQ MITK opened at $17.01 on Tuesday. The stock has a market capitalization of $768.17 million, a price-to-earnings ratio of 48.60 and a beta of 0.97. The stock has a 50-day moving average of $17.51 and a 200 day moving average of $14.66. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.20. Mitek Systems, Inc. has a twelve month low of $8.53 and a twelve month high of $21.05.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 EPS for the quarter, beating the consensus estimate of $0.26 by $0.12. The company had revenue of $54.84 million for the quarter, compared to analyst estimates of $52.59 million. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%. Sell-side analysts anticipate that Mitek Systems, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, COO Garrett Gafke sold 21,108 shares of Mitek Systems stock in a transaction on Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the sale, the chief operating officer owned 244,279 shares of the company’s stock, valued at approximately $3,466,319.01. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Mitek Systems Company 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.