Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,641 shares of the software maker’s stock after selling 1,737 shares during the quarter. Voya Investment Management LLC’s holdings in Mitek Systems were worth $163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. grew its position in Mitek Systems by 534.4% in the 4th quarter. Invesco Ltd. now owns 1,722,099 shares of the software maker’s stock valued at $19,167,000 after acquiring an additional 1,450,652 shares in the last quarter. Marshall Wace LLP grew its position in Mitek Systems by 2,115.7% in the 4th quarter. Marshall Wace LLP now owns 859,123 shares of the software maker’s stock valued at $9,562,000 after acquiring an additional 820,349 shares in the last quarter. Impax Asset Management Group plc acquired a new position in shares of Mitek Systems during the fourth quarter worth about $5,565,000. Phoenix Financial Ltd. acquired a new position in shares of Mitek Systems during the fourth quarter worth about $4,733,000. Finally, Cannell Capital LLC acquired a new position in shares of Mitek Systems during the fourth quarter worth about $2,164,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mitek Systems

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of Mitek Systems stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the transaction, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MITK. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Maxim Group upped their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.88.

Mitek Systems Trading Down 0.9%

Shares of MITK stock opened at $9.60 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The firm has a market capitalization of $434.34 million, a PE ratio of 106.67 and a beta of 1.11. Mitek Systems, Inc. has a 1-year low of $6.93 and a 1-year high of $14.18. The business’s fifty day moving average price is $8.41 and its 200 day moving average price is $9.34.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Thursday, May 8th. The software maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $51.93 million for the quarter, compared to analyst estimates of $47.21 million. Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

About Mitek Systems

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.