Marshall Wace LLP Purchases 820,349 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Marshall Wace LLP increased its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 2,115.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 859,123 shares of the software maker's stock after purchasing an additional 820,349 shares during the period. Marshall Wace LLP owned approximately 1.90% of Mitek Systems worth $9,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Mitek Systems by 3.8% in the third quarter. State Street Corp now owns 1,306,351 shares of the software maker's stock worth $11,326,000 after buying an additional 47,418 shares during the last quarter. Barclays PLC increased its holdings 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 acquiring an additional 60,256 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Mitek Systems by 15.5% in 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 shares of Mitek Systems by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker's stock valued at $237,000 after acquiring an additional 4,237 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in Mitek Systems by 24.7% during 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. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MITK has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. Maxim Group upped their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a research 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.88.

Insider Activity at Mitek Systems

In other Mitek Systems news, CEO Edward H. West purchased 55,000 shares of Mitek Systems stock in a transaction dated Thursday, February 20th. The stock was acquired 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 owns 55,000 shares in the company, valued at $506,550. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Mitek Systems Trading Up 0.2 %

Shares of MITK traded up $0.02 during mid-day trading on Friday, reaching $8.32. 184,089 shares of the company's stock traded hands, compared to its average volume of 570,990. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The stock's 50-day moving average is $8.56 and its two-hundred day moving average is $9.35. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $14.32. The stock has a market cap of $376.43 million, a P/E ratio of 92.44 and a beta of 1.15.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released 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%. Research analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share 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.