Impax Asset Management Group plc Takes $5.57 Million Position in Mitek Systems, Inc. (NASDAQ:MITK)

Impax Asset Management Group plc bought a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 500,000 shares of the software maker's stock, valued at approximately $5,565,000. Impax Asset Management Group plc owned approximately 1.11% of Mitek Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MITK. Creative Planning purchased a new stake in shares of Mitek Systems in the third quarter valued at $152,000. Olympiad Research LP acquired a new position in Mitek Systems in the 3rd quarter valued at about $247,000. Kovack Advisors Inc. purchased a new position in Mitek Systems in the 3rd quarter valued at about $372,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Mitek Systems during the 3rd quarter worth about $506,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Mitek Systems during the third quarter worth about $60,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MITK shares. HC Wainwright reissued a "buy" rating and set a $13.00 price objective on shares of Mitek Systems in a research note on Tuesday, February 11th. Maxim Group raised their price objective on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, StockNews.com downgraded Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.88.

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Insider Buying and Selling at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the transaction, the senior vice president now owns 65,353 shares of the company's stock, valued at approximately $593,405.24. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason Gray sold 6,222 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total value of $56,433.54. Following the transaction, the insider now owns 164,342 shares of the company's stock, valued at approximately $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,086 shares of company stock valued at $127,884 over the last three months. 2.10% of the stock is owned by company insiders.

Mitek Systems Trading Down 0.1 %

Shares of MITK traded down $0.01 during trading hours on Friday, hitting $9.37. The stock had a trading volume of 434,284 shares, compared to its average volume of 565,697. The company's fifty day simple moving average is $10.38 and its 200 day simple moving average is $9.46. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59. The firm has a market cap of $423.94 million, a P/E ratio of 104.11 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Equities research analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

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.