American Century Companies Inc. Reduces Position in Mitek Systems, Inc. (NASDAQ:MITK)

American Century Companies Inc. decreased its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 36.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,538 shares of the software maker’s stock after selling 19,456 shares during the period. American Century Companies Inc. owned about 0.07% of Mitek Systems worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Mitek Systems by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock valued at $49,599,000 after purchasing an additional 138,438 shares in the last quarter. LSV Asset Management lifted its position in shares of Mitek Systems by 0.4% during the 2nd quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock valued at $8,260,000 after buying an additional 2,900 shares in the last quarter. Tyro Capital Management LLC bought a new position in shares of Mitek Systems during the 4th quarter valued at approximately $9,240,000. Ranger Investment Management L.P. increased its holdings in Mitek Systems by 5.5% in the 4th quarter. Ranger Investment Management L.P. now owns 678,508 shares of the software maker’s stock worth $8,848,000 after acquiring an additional 35,410 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Mitek Systems by 32.8% during the 1st quarter. Tocqueville Asset Management L.P. now owns 526,300 shares of the software maker’s stock worth $7,421,000 after acquiring an additional 130,000 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Mitek Systems Trading Down 1.5 %

Shares of Mitek Systems stock opened at $8.48 on Friday. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $9.55 and a 200-day moving average price of $11.52. The firm has a market cap of $396.79 million, a price-to-earnings ratio of -53.50 and a beta of 1.07.

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

Wall Street Analyst Weigh In

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