IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 41,568 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 23.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,954 shares of the software maker’s stock after selling 41,568 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.31% of Mitek Systems worth $1,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Barclays PLC raised its position in Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after buying an additional 60,256 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Mitek Systems by 357.0% during the third quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after purchasing an additional 64,509 shares in the last quarter. State Street Corp lifted its position in shares of Mitek Systems by 3.8% during the third quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock valued at $11,326,000 after purchasing an additional 47,418 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Mitek Systems by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock worth $2,280,000 after purchasing an additional 35,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock worth $1,134,000 after purchasing an additional 2,460 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In other Mitek Systems news, CEO Edward H. West acquired 55,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $9.21 per share, with a total value of $506,550.00. Following the acquisition, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Mitek Systems Price Performance

Mitek Systems stock opened at $8.87 on Friday. The business’s 50 day simple moving average is $9.64 and its 200 day simple moving average is $9.46. Mitek Systems, Inc. has a 12 month low of $7.35 and a 12 month high of $16.24. The company has a market cap of $401.31 million, a price-to-earnings ratio of 98.56 and a beta of 1.08. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Sell-side analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MITK shares. Maxim Group boosted their target price on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com cut Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

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.