Wisconsin Capital Management LLC Trims Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Wisconsin Capital Management LLC lessened its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 23.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 252,400 shares of the software maker’s stock after selling 76,200 shares during the quarter. Mitek Systems makes up about 2.0% of Wisconsin Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Wisconsin Capital Management LLC’s holdings in Mitek Systems were worth $3,291,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MITK. Covestor Ltd increased its holdings in shares of Mitek Systems by 32.3% during the 3rd quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock worth $65,000 after buying an additional 1,492 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new position in shares of Mitek Systems in the 3rd quarter valued at about $136,000. Principal Financial Group Inc. grew its holdings in shares of Mitek Systems by 30.1% during the 3rd quarter. Principal Financial Group Inc. now owns 17,136 shares of the software maker’s stock worth $184,000 after purchasing an additional 3,960 shares during the period. New York State Common Retirement Fund increased its position in Mitek Systems by 60.3% during the 4th quarter. New York State Common Retirement Fund now owns 21,077 shares of the software maker’s stock worth $275,000 after purchasing an additional 7,929 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in Mitek Systems in the third quarter valued at approximately $306,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Mitek Systems Stock Down 2.0 %

Shares of MITK stock traded down $0.25 on Thursday, hitting $12.41. The stock had a trading volume of 308,818 shares, compared to its average volume of 499,320. Mitek Systems, Inc. has a 52-week low of $8.80 and a 52-week high of $16.24. The firm has a market capitalization of $580.66 million, a price-to-earnings ratio of -179.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.70 and a current ratio of 4.70. The stock’s 50 day moving average is $12.71 and its 200-day moving average is $12.01.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Monday, April 15th. The software maker reported $0.08 earnings per share for the quarter. Mitek Systems had a positive return on equity of 13.13% and a negative net margin of 1.97%. The company had revenue of $36.92 million during the quarter. As a group, research analysts expect that Mitek Systems, Inc. will post 0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MITK has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a research note on Tuesday, April 16th. Craig Hallum increased their price target on Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, April 17th.

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.