Tocqueville Asset Management L.P. Increases Stake in Mitek Systems, Inc. (NASDAQ:MITK)

Tocqueville Asset Management L.P. increased its position in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 45.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,300 shares of the software maker's stock after acquiring an additional 80,000 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.57% of Mitek Systems worth $2,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MITK. Avior Wealth Management LLC purchased a new stake in Mitek Systems during the 3rd quarter valued at approximately $60,000. Y Intercept Hong Kong Ltd purchased a new stake in Mitek Systems during the 4th quarter valued at approximately $114,000. Lazari Capital Management Inc. purchased a new stake in Mitek Systems during the 4th quarter valued at approximately $117,000. Intech Investment Management LLC purchased a new stake in Mitek Systems during the 3rd quarter valued at approximately $117,000. Finally, Kingsview Wealth Management LLC grew its holdings in Mitek Systems by 16.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock valued at $230,000 after buying an additional 2,865 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MITK has been the subject of a number of recent research reports. StockNews.com lowered shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and issued a $13.00 target price on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, Maxim Group raised their target price 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.88.

Remove Ads

Mitek Systems Trading Up 1.2 %

Shares of NASDAQ:MITK traded up $0.11 on Friday, hitting $9.17. 996,930 shares of the company's stock were exchanged, compared to its average volume of 589,025. Mitek Systems, Inc. has a 12 month low of $7.35 and a 12 month high of $16.24. The stock has a market capitalization of $414.89 million, a price-to-earnings ratio of 101.89 and a beta of 1.08. The business's 50 day simple moving average is $9.74 and its two-hundred day simple moving average is $9.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59.

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 the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity

In other news, CEO Edward H. West purchased 55,000 shares of the business'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 purchase, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company's stock.

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.