JPMorgan Chase & Co. Buys 136,949 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

JPMorgan Chase & Co. grew its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 52.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 399,905 shares of the software maker's stock after purchasing an additional 136,949 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.88% of Mitek Systems worth $4,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new position in shares of Mitek Systems during the 4th quarter valued at approximately $105,000. Semanteon Capital Management LP purchased a new stake in Mitek Systems during the fourth quarter valued at approximately $341,000. Tocqueville Asset Management L.P. lifted its position in Mitek Systems by 45.4% during the fourth quarter. Tocqueville Asset Management L.P. now owns 256,300 shares of the software maker's stock valued at $2,853,000 after acquiring an additional 80,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mitek Systems during the fourth quarter valued at approximately $1,259,000. Finally, Raymond James Financial Inc. purchased a new stake in Mitek Systems during the fourth quarter valued at approximately $341,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Mitek Systems Stock Performance

Shares of MITK traded up $0.13 during mid-day trading on Thursday, hitting $8.14. The stock had a trading volume of 20,208 shares, compared to its average volume of 569,910. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The company's fifty day simple moving average is $8.62 and its two-hundred day simple moving average is $9.36. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $14.32. The company has a market cap of $368.29 million, a PE ratio of 90.33 and a beta of 1.15.

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 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, equities analysts expect that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MITK. 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. Maxim Group lifted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company 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 report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.88.

Insider Buying and Selling

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were bought at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at approximately $506,550. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.

Mitek Systems 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.