Bank of New York Mellon Corp Increases Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Bank of New York Mellon Corp increased its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 15.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 189,584 shares of the software maker’s stock after purchasing an additional 24,970 shares during the quarter. Bank of New York Mellon Corp owned 0.41% of Mitek Systems worth $2,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Thompson Davis & CO. Inc. bought a new stake in shares of Mitek Systems in the 1st quarter worth about $172,000. Assenagon Asset Management S.A. lifted its stake in Mitek Systems by 13.4% in the first quarter. Assenagon Asset Management S.A. now owns 20,738 shares of the software maker’s stock worth $292,000 after purchasing an additional 2,457 shares during the last quarter. Aristides Capital LLC boosted its position in shares of Mitek Systems by 46.0% during the fourth quarter. Aristides Capital LLC now owns 23,108 shares of the software maker’s stock valued at $301,000 after buying an additional 7,278 shares during the period. BOKF NA grew its stake in shares of Mitek Systems by 106.4% during the first quarter. BOKF NA now owns 27,203 shares of the software maker’s stock valued at $391,000 after buying an additional 14,022 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Mitek Systems by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,027 shares of the software maker’s stock worth $438,000 after buying an additional 1,759 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Up 1.1 %

MITK opened at $8.50 on Wednesday. The company has a fifty day moving average of $10.32 and a two-hundred day moving average of $11.78. The stock has a market capitalization of $397.72 million, a price-to-earnings ratio of -53.13 and a beta of 1.07. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46.

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

Analyst Ratings Changes

MITK has been the subject of a number of research analyst reports. Maxim Group decreased their price objective on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a report on Monday, August 12th. Craig Hallum lowered their price target on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 9th. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, HC Wainwright dropped their price target on Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Mitek Systems Profile

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.