Dimensional Fund Advisors LP Purchases 128,282 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Dimensional Fund Advisors LP lifted its position in Mitek Systems, Inc. (NASDAQ:MITK) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,657,465 shares of the software maker’s stock after purchasing an additional 128,282 shares during the quarter. Dimensional Fund Advisors LP owned 3.54% of Mitek Systems worth $18,531,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tyro Capital Management LLC bought a new stake in shares of Mitek Systems in the 4th quarter worth about $9,240,000. LSV Asset Management lifted its position in Mitek Systems by 852.1% during the 1st quarter. LSV Asset Management now owns 735,899 shares of the software maker’s stock worth $10,376,000 after buying an additional 658,603 shares in the last quarter. Vanguard Group Inc. lifted its position in Mitek Systems by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock worth $49,599,000 after buying an additional 138,438 shares in the last quarter. Tocqueville Asset Management L.P. lifted its position in Mitek Systems by 32.8% during the 1st quarter. Tocqueville Asset Management L.P. now owns 526,300 shares of the software maker’s stock worth $7,421,000 after buying an additional 130,000 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Mitek Systems by 78.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,470 shares of the software maker’s stock worth $557,000 after buying an additional 17,337 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price target for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. HC Wainwright reduced their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Craig Hallum cut their target price on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Maxim Group cut their target price on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.13.

Mitek Systems Stock Performance

Mitek Systems stock opened at $8.42 on Friday. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The company has a market cap of $393.98 million, a PE ratio of -53.19 and a beta of 1.07. The company’s 50-day moving average is $9.46 and its two-hundred day moving average is $11.50.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $45.00 million for the quarter, compared to analyst estimates of $47.99 million. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. Equities analysts anticipate that Mitek Systems, Inc. will post 0.56 earnings per share for the current year.

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.