Perennial Investment Advisors LLC Sells 10,875 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Perennial Investment Advisors LLC cut its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,170 shares of the software maker’s stock after selling 10,875 shares during the quarter. Perennial Investment Advisors LLC owned 0.10% of Mitek Systems worth $480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Avior Wealth Management LLC boosted its stake in Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock worth $96,000 after acquiring an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Mitek Systems during the fourth quarter valued at about $105,000. Y Intercept Hong Kong Ltd bought a new position in shares of Mitek Systems during the 4th quarter worth about $114,000. Intech Investment Management LLC acquired a new stake in shares of Mitek Systems in the 3rd quarter valued at about $117,000. Finally, Lazari Capital Management Inc. acquired a new stake in shares of Mitek Systems in the 4th quarter valued at about $117,000. 83.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Mitek Systems Stock Performance

Shares of Mitek Systems stock opened at $7.47 on Friday. The company has a market cap of $337.97 million, a PE ratio of 83.00 and a beta of 1.08. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 52 week low of $7.31 and a 52 week high of $16.24. The business has a 50 day moving average price of $9.41 and a 200-day moving average price of $9.46.

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

Analyst Ratings Changes

MITK has been the topic of several recent research reports. Maxim Group increased their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Mitek Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

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.