Northern Trust Corp grew its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,248 shares of the software maker’s stock after buying an additional 31,002 shares during the quarter. Northern Trust Corp’s holdings in Mitek Systems were worth $3,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Mitek Systems by 12.9% in the 2nd quarter. BlackRock Inc. now owns 2,190,650 shares of the software maker’s stock worth $19,497,000 after purchasing an additional 250,585 shares during the period. Intrinsic Edge Capital Management LLC bought a new position in Mitek Systems in the 2nd quarter worth $1,691,000. Dimensional Fund Advisors LP bought a new position in Mitek Systems in the 1st quarter worth $934,000. Paradigm Capital Management Inc. NY raised its holdings in Mitek Systems by 243.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 141,000 shares of the software maker’s stock worth $1,255,000 after purchasing an additional 100,000 shares during the period. Finally, Gradient Investments LLC bought a new position in Mitek Systems in the 2nd quarter worth $840,000. 48.63% of the stock is currently owned by institutional investors.
In other Mitek Systems news, CEO James B. Debello sold 42,308 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $9.41, for a total value of $398,118.28. Following the completion of the sale, the chief executive officer now owns 718,687 shares in the company, valued at approximately $6,762,844.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James B. Debello sold 50,000 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $9.46, for a total value of $473,000.00. Following the completion of the sale, the chief executive officer now owns 710,695 shares of the company’s stock, valued at approximately $6,723,174.70. The disclosure for this sale can be found here. Insiders sold a total of 126,304 shares of company stock valued at $1,190,878 in the last quarter. 8.52% of the stock is currently owned by company insiders.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, November 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. Mitek Systems had a positive return on equity of 5.75% and a negative net margin of 18.58%. The business had revenue of $21.00 million during the quarter, compared to analyst estimates of $20.09 million. During the same quarter in the prior year, the business posted $0.11 EPS. Mitek Systems’s revenue for the quarter was up 62.8% compared to the same quarter last year. As a group, equities analysts expect that Mitek Systems, Inc. will post 0.19 earnings per share for the current fiscal year.
A number of equities analysts recently commented on MITK shares. Zacks Investment Research raised Mitek Systems from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a report on Wednesday, October 10th. BidaskClub raised Mitek Systems from a “sell” rating to a “hold” rating in a report on Friday, October 12th. National Securities set a $18.00 target price on Mitek Systems and gave the stock a “buy” rating in a report on Friday, November 2nd. ValuEngine cut Mitek Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Benchmark cut Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Mitek Systems currently has a consensus rating of “Buy” and an average price target of $12.33.
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About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.
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