Sargent Investment Group LLC Trims Stake in Mitek Systems, Inc. (NASDAQ:MITK)

Sargent Investment Group LLC cut its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251,605 shares of the software maker’s stock after selling 33,475 shares during the quarter. Sargent Investment Group LLC owned approximately 0.54% of Mitek Systems worth $2,181,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Mitek Systems by 4.1% in the first quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock valued at $49,599,000 after purchasing an additional 138,438 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mitek Systems by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock worth $18,531,000 after acquiring an additional 128,282 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of 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 acquiring an additional 553,379 shares during the period. LSV Asset Management raised its position in shares of Mitek Systems by 0.4% in the second quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock worth $8,260,000 after acquiring an additional 2,900 shares during the period. Finally, Tocqueville Asset Management L.P. raised its position in shares of Mitek Systems by 32.8% in the first quarter. Tocqueville Asset Management L.P. now owns 526,300 shares of the software maker’s stock worth $7,421,000 after acquiring an additional 130,000 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Stock Performance

Mitek Systems stock traded down $0.18 during midday trading on Thursday, hitting $9.28. 77,163 shares of the company’s stock were exchanged, compared to its average volume of 547,719. The stock has a market cap of $428.74 million, a price-to-earnings ratio of -63.07 and a beta of 1.07. The firm’s 50 day simple moving average is $8.74 and its 200 day simple moving average is $10.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MITK shares. Maxim Group decreased their price objective on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price target for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. Craig Hallum reduced their price target on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 9th. HC Wainwright cut their price objective on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Mitek Systems 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.