Foundry Partners LLC boosted its holdings in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,610 shares of the software maker's stock after purchasing an additional 153,415 shares during the quarter. Foundry Partners LLC owned about 1.11% of Mitek Systems worth $5,572,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MITK. Avior Wealth Management LLC raised its holdings in shares of Mitek Systems by 24.7% in the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock valued at $96,000 after purchasing an additional 1,700 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker's stock worth $1,134,000 after purchasing an additional 2,460 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Mitek Systems by 4.0% during the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker's stock worth $640,000 after buying an additional 2,806 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Mitek Systems by 16.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock worth $230,000 after buying an additional 2,865 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Mitek Systems by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker's stock worth $237,000 after buying an additional 4,237 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.
Mitek Systems Stock Performance
Mitek Systems stock traded down $0.40 during mid-day trading on Thursday, reaching $7.58. The company's stock had a trading volume of 80,524 shares, compared to its average volume of 599,977. The firm's fifty day moving average price is $9.13 and its two-hundred day moving average price is $9.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59. Mitek Systems, Inc. has a 12-month low of $6.93 and a 12-month high of $16.24. The company has a market capitalization of $342.99 million, a P/E ratio of 84.50 and a beta of 1.15.
Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Sell-side analysts predict that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Maxim Group lifted their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. HC Wainwright reiterated a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a research note on Tuesday, February 11th. Finally, StockNews.com lowered shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.88.
Get Our Latest Stock Analysis on Mitek Systems
Insiders Place Their Bets
In related news, CEO Edward H. West acquired 55,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the acquisition, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.
Mitek Systems Company Profile
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Free Report)
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.
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