Mitek Systems (NASDAQ:MITK) Announces Quarterly Earnings Results

Mitek Systems (NASDAQ:MITK) released its quarterly earnings data on Thursday. The software maker reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18, Zacks reports. Mitek Systems had a net margin of 8.71% and a return on equity of 17.26%.

Mitek Systems Price Performance

MITK traded up $0.01 during trading on Thursday, hitting $9.24. The company had a trading volume of 1,096,092 shares, compared to its average volume of 433,835. Mitek Systems has a 1-year low of $6.93 and a 1-year high of $11.78. The company has a market cap of $421.81 million, a PE ratio of 28.00 and a beta of 1.21. The business has a 50-day moving average of $9.19 and a 200-day moving average of $9.59.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Mitek Systems in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Mitek Systems by 320.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock valued at $60,000 after acquiring an additional 4,586 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Mitek Systems by 4,147.9% during the third quarter. Russell Investments Group Ltd. now owns 9,940 shares of the software maker’s stock worth $97,000 after purchasing an additional 9,706 shares during the period. Bayesian Capital Management LP bought a new position in shares of Mitek Systems in the 2nd quarter worth about $136,000. Verition Fund Management LLC acquired a new position in shares of Mitek Systems in the 3rd quarter valued at about $141,000. Finally, XTX Topco Ltd bought a new stake in shares of Mitek Systems during the 2nd quarter valued at about $153,000. Institutional investors own 83.64% of the company’s stock.

About Mitek Systems

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.