Alliancebernstein L.P. Decreases Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

Alliancebernstein L.P. lowered its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,300 shares of the software maker’s stock after selling 12,590 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of Mitek Systems worth $304,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MITK. Impax Asset Management Group plc acquired a new stake in Mitek Systems in the fourth quarter valued at $5,565,000. JPMorgan Chase & Co. lifted its position in shares of Mitek Systems by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 399,905 shares of the software maker’s stock worth $4,451,000 after purchasing an additional 136,949 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Mitek Systems in the fourth quarter worth about $1,259,000. Tocqueville Asset Management L.P. raised its stake in Mitek Systems by 45.4% during the fourth quarter. Tocqueville Asset Management L.P. now owns 256,300 shares of the software maker’s stock valued at $2,853,000 after buying an additional 80,000 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock worth $679,000 after acquiring an additional 60,256 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $9.21 per share, with a total value of $506,550.00. Following the completion of the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MITK. Maxim Group lifted their target price on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.88.

Mitek Systems Stock Up 0.4 %

Shares of MITK stock opened at $7.68 on Tuesday. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $14.32. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The firm has a market cap of $347.47 million, a PE ratio of 85.33 and a beta of 1.15. The stock has a 50 day moving average of $8.71 and a 200-day moving average of $9.38.

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