Mitek Systems, Inc. (MITK) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. grew its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,309,044 shares of the software maker’s stock after buying an additional 99,489 shares during the quarter. Vanguard Group Inc. owned 3.93% of Mitek Systems worth $8,705,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. American International Group Inc. grew its holdings in shares of Mitek Systems by 7.1% during the first quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock valued at $121,000 after buying an additional 1,197 shares during the last quarter. Hilton Capital Management LLC purchased a new stake in shares of Mitek Systems during the first quarter valued at approximately $133,000. Bank of Montreal Can grew its holdings in shares of Mitek Systems by 28.1% during the first quarter. Bank of Montreal Can now owns 25,546 shares of the software maker’s stock valued at $170,000 after buying an additional 5,608 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Mitek Systems during the first quarter valued at approximately $184,000. Finally, M&T Bank Corp grew its holdings in shares of Mitek Systems by 100.0% during the first quarter. M&T Bank Corp now owns 40,000 shares of the software maker’s stock valued at $266,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 42.70% of the company’s stock.
Shares of Mitek Systems, Inc. (NASDAQ:MITK) traded down 1.48% during midday trading on Monday, reaching $10.00. 119,866 shares of the company traded hands. The company has a 50 day moving average price of $9.96 and a 200 day moving average price of $8.17. Mitek Systems, Inc. has a 1-year low of $5.26 and a 1-year high of $10.75. The company has a market capitalization of $335.85 million, a PE ratio of 169.49 and a beta of 0.65.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $11.80 million for the quarter, compared to the consensus estimate of $11.48 million. Mitek Systems had a net margin of 5.19% and a return on equity of 10.45%. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. On average, analysts expect that Mitek Systems, Inc. will post $0.28 earnings per share for the current year.
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In other news, CFO Russell C. Clark sold 39,400 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $8.25, for a total value of $325,050.00. Following the sale, the chief financial officer now directly owns 88,818 shares of the company’s stock, valued at approximately $732,748.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.52% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. Benchmark Co. increased their price target on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 24th. Northland Securities reiterated a “buy” rating and set a $11.00 price target on shares of Mitek Systems in a report on Tuesday, July 25th. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Roth Capital set a $12.00 target price on shares of Mitek Systems and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a report on Friday, July 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $10.67.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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