IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 14,793 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,522 shares of the software maker’s stock after selling 14,793 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.39% of Mitek Systems worth $1,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Mitek Systems by 4.1% in the first quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock worth $49,599,000 after acquiring an additional 138,438 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mitek Systems by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock valued at $18,531,000 after purchasing an additional 128,282 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Mitek Systems by 259.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock valued at $8,567,000 after buying an additional 553,379 shares during the period. LSV Asset Management lifted its position in Mitek Systems by 0.4% in the second quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock worth $8,260,000 after buying an additional 2,900 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its stake in Mitek Systems by 32.8% during the first quarter. Tocqueville Asset Management L.P. now owns 526,300 shares of the software maker’s stock worth $7,421,000 after buying an additional 130,000 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. HC Wainwright cut their target price on Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. Maxim Group reduced 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. Finally, Craig Hallum decreased their target price on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

Mitek Systems Stock Up 1.5 %

Shares of NASDAQ:MITK opened at $9.20 on Friday. The business’s 50 day moving average is $8.75 and its 200 day moving average is $11.20. The stock has a market cap of $430.48 million, a P/E ratio of -57.50 and a beta of 1.07. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week 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.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $45.00 million for the quarter, compared to the consensus estimate of $47.99 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 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. Sell-side analysts predict that Mitek Systems, Inc. will post 0.56 EPS for the current year.

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.