BNP Paribas Financial Markets Raises Position in Mitek Systems, Inc. (NASDAQ:MITK)

BNP Paribas Financial Markets lifted its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 357.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,578 shares of the software maker’s stock after buying an additional 64,509 shares during the period. BNP Paribas Financial Markets’ holdings in Mitek Systems were worth $716,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MITK. Dimensional Fund Advisors LP boosted its stake in shares of Mitek Systems by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock worth $18,531,000 after buying an additional 128,282 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Mitek Systems by 259.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after purchasing an additional 553,379 shares during the last quarter. LSV Asset Management grew its stake in Mitek Systems by 0.4% in the 2nd quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock valued at $8,260,000 after purchasing an additional 2,900 shares during the period. Foundry Partners LLC increased its position in shares of Mitek Systems by 18.5% during the 3rd quarter. Foundry Partners LLC now owns 347,195 shares of the software maker’s stock valued at $3,010,000 after purchasing an additional 54,235 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Mitek Systems by 251.1% in the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after buying an additional 221,116 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MITK shares. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.13.

Insider Activity at Mitek Systems

In other news, insider Michael E. Diamond sold 4,544 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the completion of the transaction, the insider now owns 166,632 shares in the company, valued at $1,514,684.88. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Gray sold 6,222 shares of Mitek Systems stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the sale, the insider now owns 164,342 shares of the company’s stock, valued at $1,490,581.94. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,699 shares of company stock valued at $152,140 in the last three months. Company insiders own 2.10% of the company’s stock.

Mitek Systems Price Performance

Shares of Mitek Systems stock opened at $8.90 on Friday. The business has a 50 day moving average of $9.02 and a 200 day moving average of $10.00. Mitek Systems, Inc. has a 52 week low of $7.35 and a 52 week high of $16.24. The company has a market cap of $411.22 million, a PE ratio of -59.33 and a beta of 1.12. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68.

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.