Rhumbline Advisers lifted its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,626 shares of the software maker’s stock after purchasing an additional 1,927 shares during the quarter. Rhumbline Advisers owned about 0.10% of Mitek Systems worth $282,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Mitek Systems by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock worth $8,705,000 after purchasing an additional 99,489 shares during the period. Thomson Horstmann & Bryant Inc. grew its stake in shares of Mitek Systems by 11.4% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 649,330 shares of the software maker’s stock worth $5,454,000 after purchasing an additional 66,688 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Mitek Systems by 3,097.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock worth $2,431,000 after purchasing an additional 354,150 shares during the period. Essex Investment Management Co. LLC grew its stake in shares of Mitek Systems by 73.6% during the 2nd quarter. Essex Investment Management Co. LLC now owns 311,799 shares of the software maker’s stock worth $2,619,000 after purchasing an additional 132,238 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Mitek Systems by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 241,802 shares of the software maker’s stock worth $1,607,000 after purchasing an additional 8,185 shares during the period. 42.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Mitek Systems, Inc. (MITK) opened at 9.50 on Thursday. The company has a 50-day moving average of $9.78 and a 200-day moving average of $8.91. Mitek Systems, Inc. has a 52 week low of $5.26 and a 52 week high of $10.75. The firm has a market capitalization of $319.06 million, a PE ratio of 161.02 and a beta of 0.73.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Mitek Systems had a net margin of 5.22% and a return on equity of 5.56%. The business had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $11.48 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 29.7% on a year-over-year basis. On average, equities analysts forecast that Mitek Systems, Inc. will post $0.28 earnings per share for the current fiscal year.
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A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Roth Capital set a $12.00 price target on shares of Mitek Systems and gave the stock a “buy” rating in a research note on Friday, July 28th. Northland Securities reaffirmed a “buy” rating and set a $11.00 price target on shares of Mitek Systems in a research note on Tuesday, July 25th. Finally, Benchmark Co. upped their price target on shares of Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.67.
Mitek Systems Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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