Assenagon Asset Management S.A. Sells 216,752 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Assenagon Asset Management S.A. cut its stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 92.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,281 shares of the software maker's stock after selling 216,752 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Mitek Systems were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MITK. Raymond James & Associates grew its holdings in shares of Mitek Systems by 1.8% during the 4th quarter. Raymond James & Associates now owns 73,243 shares of the software maker's stock worth $955,000 after purchasing an additional 1,274 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Mitek Systems by 88.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker's stock worth $29,000 after purchasing an additional 1,475 shares during the period. Covestor Ltd grew 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 purchasing an additional 1,492 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Mitek Systems by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 113,399 shares of the software maker's stock worth $1,664,000 after purchasing an additional 1,729 shares during the period. Finally, Wisconsin Capital Management LLC grew its holdings in shares of Mitek Systems by 0.6% during the 3rd quarter. Wisconsin Capital Management LLC now owns 328,600 shares of the software maker's stock worth $3,523,000 after purchasing an additional 1,950 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Mitek Systems Trading Up 0.3 %

Mitek Systems stock traded up $0.04 during midday trading on Tuesday, reaching $14.59. 300,262 shares of the stock traded hands, compared to its average volume of 410,281. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $682.68 million, a PE ratio of 91.19 and a beta of 1.09. The company has a 50-day simple moving average of $12.55 and a two-hundred day simple moving average of $11.82. Mitek Systems, Inc. has a 12-month low of $8.77 and a 12-month high of $14.99.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $37.66 million for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. Research analysts expect that Mitek Systems, Inc. will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

MITK has been the subject of a number of research analyst reports. Craig Hallum initiated coverage on Mitek Systems in a report on Thursday, December 14th. They set a "buy" rating and a $17.00 target price for the company. StockNews.com cut Mitek Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 21st. Finally, HC Wainwright restated a "buy" rating and set a $19.00 target price on shares of Mitek Systems in a report on Wednesday, March 20th.

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.