Charles Schwab Investment Management Inc. Has $1.13 Million Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

Charles Schwab Investment Management Inc. increased its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 130,781 shares of the software maker’s stock after acquiring an additional 2,460 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Mitek Systems were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MITK. Dimensional Fund Advisors LP grew its position in Mitek Systems by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock worth $18,531,000 after purchasing an additional 128,282 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in Mitek Systems by 259.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after buying an additional 553,379 shares in the last quarter. LSV Asset Management increased its stake in Mitek Systems by 0.4% during the second quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock valued at $8,260,000 after acquiring an additional 2,900 shares during the period. Foundry Partners LLC raised its holdings in Mitek Systems by 18.5% in the 3rd quarter. Foundry Partners LLC now owns 347,195 shares of the software maker’s stock valued at $3,010,000 after acquiring an additional 54,235 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Mitek Systems by 251.1% in the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after acquiring an additional 221,116 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Mitek Systems

In related news, insider Michael E. Diamond sold 4,544 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total transaction of $41,304.96. Following the transaction, the insider now owns 166,632 shares in the company, valued at $1,514,684.88. This represents a 2.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Gray sold 6,222 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total transaction of $56,433.54. Following the sale, the insider now directly owns 164,342 shares in the company, valued at approximately $1,490,581.94. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,699 shares of company stock worth $152,140 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Mitek Systems Price Performance

Mitek Systems stock opened at $10.93 on Wednesday. The business has a 50 day simple moving average of $9.04 and a 200 day simple moving average of $9.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. The company has a market capitalization of $505.01 million, a PE ratio of -72.87 and a beta of 1.12. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on MITK. HC Wainwright boosted their price objective on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com lowered shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.63.

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.