Mitek Systems, Inc. $MITK Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 99.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 216,046 shares of the software maker’s stock after selling 31,935,442 shares during the quarter. Lazard Asset Management LLC’s holdings in Mitek Systems were worth $2,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Mitek Systems by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,717,031 shares of the software maker’s stock worth $36,315,000 after purchasing an additional 198,068 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Mitek Systems by 0.5% in the fourth quarter. Invesco Ltd. now owns 1,919,576 shares of the software maker’s stock valued at $20,252,000 after purchasing an additional 10,105 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Mitek Systems by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,685,657 shares of the software maker’s stock worth $22,756,000 after acquiring an additional 29,997 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Mitek Systems by 8.4% in the fourth quarter. Impax Asset Management Group plc now owns 1,295,000 shares of the software maker’s stock worth $13,662,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Mitek Systems by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,262,658 shares of the software maker’s stock worth $13,323,000 after buying an additional 9,921 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Mitek Systems

In other Mitek Systems news, COO Garrett Gafke sold 21,108 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $14.19, for a total transaction of $299,522.52. Following the sale, the chief operating officer owned 244,279 shares of the company’s stock, valued at $3,466,319.01. This represents a 7.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Mitek Systems Stock Down 2.2%

Shares of NASDAQ:MITK opened at $16.70 on Friday. The company has a market capitalization of $754.17 million, a PE ratio of 47.72 and a beta of 0.97. Mitek Systems, Inc. has a 52 week low of $8.53 and a 52 week high of $21.05. 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 company’s fifty day moving average is $17.65 and its 200-day moving average is $14.81.

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

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.