Renaissance Technologies LLC Has $1.41 Million Stake in Mitek Systems, Inc. (MITK)

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Renaissance Technologies LLC decreased its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 57.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,051 shares of the software maker’s stock after selling 217,125 shares during the quarter. Renaissance Technologies LLC owned about 0.42% of Mitek Systems worth $1,407,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of Mitek Systems by 35.7% in the 1st quarter. Russell Investments Group Ltd. now owns 25,741 shares of the software maker’s stock worth $190,000 after buying an additional 6,772 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Mitek Systems by 15.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 71,065 shares of the software maker’s stock worth $633,000 after buying an additional 9,300 shares during the period. Unterberg Capital LLC raised its position in shares of Mitek Systems by 2.5% in the 2nd quarter. Unterberg Capital LLC now owns 635,000 shares of the software maker’s stock worth $5,652,000 after buying an additional 15,622 shares during the period. Mackay Shields LLC purchased a new position in shares of Mitek Systems in the 2nd quarter worth $208,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Mitek Systems in the 2nd quarter worth $239,000. Institutional investors and hedge funds own 46.20% of the company’s stock.

Shares of MITK opened at $8.03 on Wednesday. The firm has a market capitalization of $294.82 million, a P/E ratio of 89.00, a PEG ratio of 2.97 and a beta of 0.21. Mitek Systems, Inc. has a twelve month low of $6.32 and a twelve month high of $10.10.

In other Mitek Systems news, CEO James B. Debello sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $8.54, for a total value of $427,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Hale III acquired 20,000 shares of the business’s stock in a transaction on Friday, August 31st. The stock was bought at an average cost of $7.17 per share, for a total transaction of $143,400.00. Following the completion of the transaction, the director now directly owns 111,135 shares of the company’s stock, valued at $796,837.95. The disclosure for this purchase can be found here. Company insiders own 7.50% of the company’s stock.

Several research analysts recently weighed in on the company. BidaskClub lowered Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. ValuEngine raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. National Securities set a $18.00 target price on Mitek Systems and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Benchmark lowered Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 28th. Finally, TheStreet lowered Mitek Systems from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $11.08.

Mitek Systems Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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