Barclays PLC Purchases 60,256 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Barclays PLC grew its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 335.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,209 shares of the software maker’s stock after acquiring an additional 60,256 shares during the quarter. Barclays PLC’s holdings in Mitek Systems were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Mitek Systems in the 2nd quarter valued at $57,000. Avior Wealth Management LLC bought a new position in shares of Mitek Systems in the third quarter valued at $60,000. Squarepoint Ops LLC acquired a new position in shares of Mitek Systems during the second quarter valued at about $138,000. Intech Investment Management LLC bought a new stake in shares of Mitek Systems during the third quarter worth about $117,000. Finally, SG Americas Securities LLC bought a new stake in shares of Mitek Systems during the third quarter worth about $148,000. Institutional investors own 83.64% of the company’s stock.

Insider Activity

In related news, insider Jason Gray sold 6,222 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the transaction, the insider now owns 164,342 shares in the company, valued at approximately $1,490,581.94. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher H. Briggs sold 3,320 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total value of $30,145.60. Following the transaction, the senior vice president now directly owns 65,353 shares of the company’s stock, valued at approximately $593,405.24. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,699 shares of company stock valued at $152,140 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Mitek Systems Trading Down 1.4 %

NASDAQ:MITK opened at $11.13 on Thursday. Mitek Systems, Inc. has a 52 week low of $7.35 and a 52 week high of $16.24. The firm has a 50-day moving average price of $9.59 and a two-hundred day moving average price of $9.87. 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 firm has a market cap of $479.60 million, a price-to-earnings ratio of -74.20 and a beta of 1.12.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.16. The company had revenue of $43.22 million during the quarter, compared to analyst estimates of $41.30 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. Mitek Systems’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. On average, equities analysts expect that Mitek Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MITK shares. Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. StockNews.com raised Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. Finally, HC Wainwright increased their price target on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.63.

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.