State of Wyoming Sells 39,663 Shares of Mitek Systems, Inc. $MITK

State of Wyoming reduced its position in Mitek Systems, Inc. (NASDAQ:MITK) by 62.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,021 shares of the software maker’s stock after selling 39,663 shares during the quarter. State of Wyoming owned 0.05% of Mitek Systems worth $324,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its holdings in Mitek Systems by 2.5% during the 4th quarter. Squarepoint Ops LLC now owns 38,611 shares of the software maker’s stock worth $407,000 after acquiring an additional 944 shares in the last quarter. Aristides Capital LLC raised its holdings in shares of Mitek Systems by 4.5% in the 4th quarter. Aristides Capital LLC now owns 55,434 shares of the software maker’s stock valued at $585,000 after purchasing an additional 2,380 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Mitek Systems by 7.0% in the 4th quarter. Deutsche Bank AG now owns 37,329 shares of the software maker’s stock worth $394,000 after purchasing an additional 2,431 shares during the period. Royal Bank of Canada lifted its position in shares of Mitek Systems by 21.2% in the 4th quarter. Royal Bank of Canada now owns 14,954 shares of the software maker’s stock worth $158,000 after purchasing an additional 2,615 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of Mitek Systems by 17.9% during the fourth quarter. Intech Investment Management LLC now owns 19,303 shares of the software maker’s stock valued at $204,000 after purchasing an additional 2,924 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Stock Performance

MITK stock opened at $17.01 on Tuesday. Mitek Systems, Inc. has a one year low of $8.53 and a one year high of $21.05. The firm has a market cap of $768.17 million, a price-to-earnings ratio of 48.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.61 and a current ratio of 2.61. The firm has a 50-day simple moving average of $17.51 and a two-hundred day simple moving average of $14.66.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The firm had revenue of $54.84 million for the quarter, compared to the consensus estimate of $52.59 million. Mitek Systems had a net margin of 8.74% and a return on equity of 16.74%. On average, equities analysts forecast that Mitek Systems, Inc. will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MITK shares. Northland Securities set a $17.00 price objective on shares of Mitek Systems in a report on Wednesday, April 15th. Zacks Research lowered Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Weiss Ratings raised Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.00.

Insider Transactions at Mitek Systems

In other Mitek Systems news, COO Garrett Gafke sold 21,108 shares of Mitek Systems stock in a transaction on Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the transaction, the chief operating officer directly owned 244,279 shares of the company’s stock, valued at approximately $3,466,319.01. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Mitek Systems Profile

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.