Quantinno Capital Management LP Increases Stock Holdings in Mitek Systems, Inc. $MITK

Quantinno Capital Management LP increased its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 230.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 50,609 shares of the software maker’s stock after acquiring an additional 35,289 shares during the quarter. Quantinno Capital Management LP’s holdings in Mitek Systems were worth $683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Mitek Systems by 320.3% during 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 in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Mitek Systems by 305.2% in the 4th quarter. State of Alaska Department of Revenue now owns 8,075 shares of the software maker’s stock worth $85,000 after acquiring an additional 6,082 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Mitek Systems by 4,147.9% in the third quarter. Russell Investments Group Ltd. now owns 9,940 shares of the software maker’s stock valued at $97,000 after purchasing an additional 9,706 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Mitek Systems in the fourth quarter valued at about $117,000. Finally, Bayesian Capital Management LP bought a new position in shares of Mitek Systems during the second quarter valued at about $136,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Stock Performance

Mitek Systems stock opened at $18.18 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.74 and a current ratio of 2.74. The firm’s fifty day moving average price is $18.06 and its 200-day moving average price is $15.50. Mitek Systems, Inc. has a fifty-two week low of $8.53 and a fifty-two week high of $21.05. The stock has a market cap of $820.32 million, a P/E ratio of 38.68 and a beta of 0.98.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $54.04 million during the quarter, compared to analysts’ expectations of $50.82 million. Mitek Systems had a return on equity of 19.16% and a net margin of 11.39%. On average, equities research analysts expect that Mitek Systems, Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on MITK shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Mitek Systems in a report on Friday, August 7th. Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Maxim Group set a $26.00 price objective on shares of Mitek Systems in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

About Mitek Systems

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.