Bank of New York Mellon Corp Lowers Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Bank of New York Mellon Corp trimmed its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 147,952 shares of the software maker’s stock after selling 3,012 shares during the period. Bank of New York Mellon Corp’s holdings in Mitek Systems were worth $1,647,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Mitek Systems by 335.6% in the third quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after purchasing an additional 60,256 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Mitek Systems by 357.0% in the third quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after purchasing an additional 64,509 shares during the last quarter. State Street Corp boosted its holdings in Mitek Systems by 3.8% in the third quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock valued at $11,326,000 after purchasing an additional 47,418 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Mitek Systems by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock valued at $2,280,000 after purchasing an additional 35,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Mitek Systems by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock valued at $1,134,000 after purchasing an additional 2,460 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Edward H. West purchased 55,000 shares of Mitek Systems stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $506,550. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Mitek Systems Trading Up 1.2 %

Shares of Mitek Systems stock opened at $9.17 on Friday. The firm has a 50-day simple moving average of $9.74 and a two-hundred day simple moving average of $9.46. The company has a market cap of $414.89 million, a P/E ratio of 101.89 and a beta of 1.08. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. As a group, equities analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MITK has been the topic of several recent research reports. StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Maxim Group upped their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Mitek Systems presently has an average rating of “Moderate Buy” and an average target price of $12.88.

Mitek Systems 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.