Charles Schwab Investment Management Inc. Trims Stock Holdings in Mitek Systems, Inc. $MITK

Charles Schwab Investment Management Inc. trimmed its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,837 shares of the software maker’s stock after selling 3,944 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.28% of Mitek Systems worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Mitek Systems by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,564,891 shares of the software maker’s stock valued at $29,410,000 after buying an additional 10,073 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Mitek Systems by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,798,287 shares of the software maker’s stock valued at $20,016,000 after purchasing an additional 112,513 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Mitek Systems by 70.0% during the 1st quarter. Impax Asset Management Group plc now owns 850,000 shares of the software maker’s stock valued at $7,012,000 after purchasing an additional 350,000 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Mitek Systems by 1.5% during the 4th quarter. Ameriprise Financial Inc. now owns 655,656 shares of the software maker’s stock valued at $7,297,000 after purchasing an additional 9,894 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Mitek Systems by 2.4% during the 4th quarter. Northern Trust Corp now owns 440,596 shares of the software maker’s stock valued at $4,904,000 after purchasing an additional 10,377 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mitek Systems

In related news, insider Michael E. Diamond sold 70,352 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $9.77, for a total value of $687,339.04. Following the completion of the transaction, the insider directly owned 233,340 shares in the company, valued at approximately $2,279,731.80. The trade was a 23.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.17.

Mitek Systems Stock Performance

Shares of NASDAQ:MITK opened at $10.17 on Tuesday. Mitek Systems, Inc. has a 52-week low of $6.93 and a 52-week high of $11.78. The firm has a fifty day moving average of $9.75 and a 200 day moving average of $9.24. The firm has a market capitalization of $464.26 million, a PE ratio of 30.82 and a beta of 1.06.

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.