Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC lessened its position in Mitek Systems, Inc. (NASDAQ:MITK) by 11.7% during the third quarter, Holdings Channel reports. The fund owned 251,605 shares of the software maker’s stock after selling 33,475 shares during the quarter. Sargent Investment Group LLC’s holdings in Mitek Systems were worth $2,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MITK. nVerses Capital LLC boosted its position in shares of Mitek Systems by 25.5% during the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after purchasing an additional 1,300 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mitek Systems by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,027 shares of the software maker’s stock worth $438,000 after purchasing an additional 1,759 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Mitek Systems by 12.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,937 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,923 shares during the period. Innealta Capital LLC acquired a new stake in Mitek Systems in the second quarter valued at approximately $32,000. Finally, LSV Asset Management lifted its stake in Mitek Systems by 0.4% in the second quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock valued at $8,260,000 after acquiring an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MITK shares. Craig Hallum reduced their price objective on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Maxim Group cut their price objective on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Monday. HC Wainwright cut their target price on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $17.00 to $9.50 in a research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.13.

Mitek Systems Price Performance

MITK stock traded down $0.18 during midday trading on Thursday, reaching $9.28. The company had a trading volume of 77,163 shares, compared to its average volume of 547,719. The company has a market capitalization of $428.74 million, a price-to-earnings ratio of -63.07 and a beta of 1.07. The stock has a 50 day moving average price of $8.74 and a 200-day moving average price of $10.58. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46.

About Mitek Systems

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.