Invesco Ltd. increased its stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 534.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,722,099 shares of the software maker's stock after purchasing an additional 1,450,652 shares during the quarter. Invesco Ltd. owned 3.81% of Mitek Systems worth $19,167,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MITK. State Street Corp increased its holdings in Mitek Systems by 3.8% in the third quarter. State Street Corp now owns 1,306,351 shares of the software maker's stock valued at $11,326,000 after buying an additional 47,418 shares in the last quarter. Barclays PLC increased its stake in Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker's stock valued at $679,000 after purchasing an additional 60,256 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Mitek Systems by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker's stock worth $2,280,000 after purchasing an additional 35,301 shares during the last quarter. SG Americas Securities LLC boosted its position in Mitek Systems by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker's stock worth $237,000 after purchasing an additional 4,237 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in 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. Institutional investors and hedge funds own 83.64% of the company's stock.
Analyst Upgrades and Downgrades
MITK has been the subject of several research reports. Maxim Group lifted their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, StockNews.com cut shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Mitek Systems presently has an average rating of "Moderate Buy" and a consensus price target of $12.88.
Read Our Latest Research Report on Mitek Systems
Insiders Place Their Bets
In other Mitek Systems news, CEO Edward H. West purchased 55,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.
Mitek Systems Price Performance
Mitek Systems stock traded up $0.14 during midday trading on Thursday, reaching $8.15. 26,955 shares of the company were exchanged, compared to its average volume of 500,906. The firm's 50-day simple moving average is $8.62 and its 200-day simple moving average is $9.36. Mitek Systems, Inc. has a 1 year low of $6.93 and a 1 year high of $14.32. The company has a market capitalization of $368.51 million, a price-to-earnings ratio of 90.50 and a beta of 1.15. 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 (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 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%. On average, analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current year.
Mitek Systems Company Profile
(
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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