LPL Financial LLC Lowers Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

LPL Financial LLC reduced its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 35.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,052 shares of the software maker’s stock after selling 22,003 shares during the period. LPL Financial LLC owned about 0.09% of Mitek Systems worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MITK. Avior Wealth Management LLC grew its stake in Mitek Systems by 24.7% in the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock valued at $96,000 after acquiring an additional 1,700 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Mitek Systems during the fourth quarter valued at $105,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Mitek Systems in the fourth quarter valued at about $114,000. Lazari Capital Management Inc. purchased a new stake in shares of Mitek Systems during the fourth quarter worth about $117,000. Finally, Kingsview Wealth Management LLC raised its position in shares of Mitek Systems by 16.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock worth $230,000 after purchasing an additional 2,865 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MITK. StockNews.com lowered Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research note on Tuesday, February 11th. Finally, Maxim Group raised their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Insiders Place Their Bets

In other news, CEO Edward H. West purchased 55,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now directly owns 55,000 shares of the company’s stock, valued at approximately $506,550. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Mitek Systems Price Performance

NASDAQ:MITK opened at $8.32 on Friday. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $14.32. The stock has a market cap of $376.43 million, a PE ratio of 92.44 and a beta of 1.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59. The stock has a 50 day moving average price of $8.56 and a 200 day moving average price of $9.35.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) 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%. Equities research analysts expect that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

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.