Creative Planning Invests $152,000 in Mitek Systems, Inc. (NASDAQ:MITK)

Creative Planning acquired a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,480 shares of the software maker’s stock, valued at approximately $152,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Mitek Systems by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock worth $49,599,000 after acquiring an additional 138,438 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings 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 valued at $7,421,000 after buying an additional 130,000 shares in the last quarter. EVR Research LP purchased a new stake in Mitek Systems during the 2nd quarter valued at approximately $2,957,000. Marshall Wace LLP grew its holdings in Mitek Systems by 251.1% during the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock valued at $3,456,000 after buying an additional 221,116 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Mitek Systems by 9.0% during the 1st quarter. BNP Paribas Financial Markets now owns 36,684 shares of the software maker’s stock valued at $517,000 after buying an additional 3,041 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MITK shares. Craig Hallum cut their price objective on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $9.50 in a research report on Wednesday, September 4th. Maxim Group lowered their target price on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, HC Wainwright lowered their target price on Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Mitek Systems Stock Up 1.5 %

Shares of MITK opened at $9.55 on Tuesday. The company has a market cap of $441.21 million, a PE ratio of -63.67 and a beta of 1.07. The business has a fifty day moving average of $8.72 and a 200 day moving average of $10.61. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week high of $16.24. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68.

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.