46,659 Shares in Mitek Systems, Inc. $MITK Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. has acquired a new stake in Mitek Systems, amounting to 46,659 shares valued at approximately $385,000, representing about 0.10% ownership in the company.
• During the first quarter, other institutional investors also showed increased interest, with Nuveen LLC investing $959,000 and Vanguard Group Inc. raising its stake to $29.41 million.
• Mitek Systems stock has seen a downgrade from "strong-buy" to "buy" by Wall Street Zen, with a current average target price of $13.50 amidst changes in institutional ownership.

American Century Companies Inc. bought a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 46,659 shares of the software maker's stock, valued at approximately $385,000. American Century Companies Inc. owned about 0.10% of Mitek Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Mitek Systems in the first quarter valued at $959,000. Invesco Ltd. increased its holdings in shares of Mitek Systems by 4.4% in the first quarter. Invesco Ltd. now owns 1,797,990 shares of the software maker's stock valued at $14,833,000 after purchasing an additional 75,891 shares during the last quarter. Pandora Wealth Inc. acquired a new position in shares of Mitek Systems in the first quarter valued at $41,000. Vanguard Group Inc. increased its holdings in shares of Mitek Systems by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,564,891 shares of the software maker's stock valued at $29,410,000 after purchasing an additional 10,073 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Mitek Systems in the first quarter valued at $505,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michael E. Diamond sold 70,352 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $9.77, for a total value of $687,339.04. Following the completion of the sale, the insider owned 233,340 shares of the company's stock, valued at approximately $2,279,731.80. The trade was a 23.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company's stock.

Mitek Systems Stock Up 5.1%

Shares of Mitek Systems stock traded up $0.51 during trading on Thursday, reaching $10.46. The company's stock had a trading volume of 448,710 shares, compared to its average volume of 374,330. The business's 50-day moving average price is $9.75 and its 200-day moving average price is $9.26. The firm has a market cap of $477.47 million, a PE ratio of 31.70 and a beta of 1.06. Mitek Systems, Inc. has a 52 week low of $6.93 and a 52 week high of $11.78.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Mitek Systems presently has a consensus rating of "Buy" and an average target price of $13.50.

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.