Mitek Systems, Inc. (NASDAQ:MITK) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 251.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,163 shares of the software maker’s stock after acquiring an additional 221,116 shares during the period. Marshall Wace LLP owned 0.66% of Mitek Systems worth $3,456,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MITK. Tyro Capital Management LLC bought a new stake in shares of Mitek Systems in the 4th quarter worth approximately $9,240,000. LSV Asset Management boosted its holdings in shares of Mitek Systems by 852.1% during the first quarter. LSV Asset Management now owns 735,899 shares of the software maker’s stock valued at $10,376,000 after acquiring an additional 658,603 shares during the period. Thompson Siegel & Walmsley LLC grew its position in shares of Mitek Systems by 259.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after acquiring an additional 553,379 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Mitek Systems in the 2nd quarter worth about $3,275,000. Finally, Kopp LeRoy C bought a new stake in Mitek Systems in the 1st quarter valued at about $3,340,000. 83.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Maxim Group dropped their price target on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Craig Hallum decreased their price target on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. Finally, HC Wainwright decreased their target price on shares of 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Mitek Systems Stock Performance

Shares of NASDAQ MITK opened at $8.61 on Thursday. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year 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. The stock has a fifty day moving average price of $9.62 and a two-hundred day moving average price of $11.54. The firm has a market cap of $402.87 million, a P/E ratio of -53.81 and a beta of 1.07.

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). Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The firm had revenue of $45.00 million for the quarter, compared to analyst estimates of $47.99 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Mitek Systems’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Mitek Systems, Inc. will post 0.56 EPS for the current fiscal year.

Mitek Systems Company 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.