Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by S Squared Technology LLC

S Squared Technology LLC cut its position in Mitek Systems, Inc. (NASDAQ:MITK) by 6.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 432,493 shares of the software maker’s stock after selling 30,000 shares during the quarter. Mitek Systems comprises 4.1% of S Squared Technology LLC’s holdings, making the stock its 5th largest position. S Squared Technology LLC’s holdings in Mitek Systems were worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MITK. Sargent Investment Group LLC bought a new position in Mitek Systems during the 4th quarter valued at $6,106,000. Harvest Management LLC bought a new position in Mitek Systems during the 4th quarter valued at $108,000. Vanguard Group Inc. boosted its stake in Mitek Systems by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,790,442 shares of the software maker’s stock valued at $12,622,000 after acquiring an additional 114,572 shares during the last quarter. Wedbush Securities Inc. bought a new position in Mitek Systems during the 1st quarter valued at $122,000. Finally, Geode Capital Management LLC boosted its stake in Mitek Systems by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 387,747 shares of the software maker’s stock valued at $4,191,000 after acquiring an additional 43,719 shares during the last quarter. Institutional investors and hedge funds own 57.51% of the company’s stock.

Shares of Mitek Systems stock traded down $0.02 during trading hours on Friday, reaching $9.39. The company’s stock had a trading volume of 1,654 shares, compared to its average volume of 451,138. Mitek Systems, Inc. has a one year low of $6.32 and a one year high of $13.07. The company has a market cap of $363.38 million, a P/E ratio of 72.15, a PEG ratio of 4.29 and a beta of -0.18.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Mitek Systems had a negative net margin of 11.79% and a positive return on equity of 4.43%. The company had revenue of $19.98 million for the quarter, compared to the consensus estimate of $19.20 million. During the same period last year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 39.9% on a year-over-year basis. As a group, equities analysts expect that Mitek Systems, Inc. will post 0.15 EPS for the current year.

In other news, insider Michael E. Diamond sold 38,587 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $11.00, for a total value of $424,457.00. Following the transaction, the insider now directly owns 221,477 shares in the company, valued at approximately $2,436,247. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Gray sold 7,145 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.60, for a total transaction of $82,882.00. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

MITK has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 25th. BidaskClub downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. Benchmark reiterated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of Mitek Systems in a research note on Thursday, May 2nd. Finally, National Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Mitek Systems in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Mitek Systems currently has a consensus rating of “Buy” and a consensus target price of $15.00.

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Mitek Systems Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

Further Reading: P/E Growth (PEG)

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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