Wells Fargo & Company MN lifted its position in Mitek Systems, Inc. (NASDAQ:MITK) by 99.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,204,123 shares of the software maker’s stock after purchasing an additional 599,961 shares during the quarter. Wells Fargo & Company MN owned about 3.45% of Mitek Systems worth $10,777,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Mitek Systems by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,374,109 shares of the software maker’s stock valued at $11,543,000 after purchasing an additional 65,065 shares during the period. Thomson Horstmann & Bryant Inc. boosted its stake in Mitek Systems by 12.5% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 654,553 shares of the software maker’s stock worth $5,858,000 after buying an additional 72,755 shares during the period. State Street Corp boosted its stake in Mitek Systems by 7.6% during the second quarter. State Street Corp now owns 514,403 shares of the software maker’s stock worth $4,322,000 after buying an additional 36,397 shares during the period. Independent Advisor Alliance purchased a new position in Mitek Systems during the third quarter worth about $4,185,000. Finally, Northern Trust Corp boosted its stake in Mitek Systems by 8.9% during the second quarter. Northern Trust Corp now owns 364,251 shares of the software maker’s stock worth $3,060,000 after buying an additional 29,761 shares during the period. 46.62% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a research note on Friday, November 24th. National Securities assumed coverage on shares of Mitek Systems in a research note on Friday, March 9th. They set a “buy” rating and a $14.00 target price for the company. Finally, BidaskClub lowered shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.00.
Mitek Systems, Inc. (NASDAQ MITK) opened at $7.75 on Tuesday. The firm has a market cap of $277.48, a PE ratio of 56.79, a price-to-earnings-growth ratio of 6.63 and a beta of 0.47. Mitek Systems, Inc. has a 12 month low of $5.80 and a 12 month high of $10.75.
Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, January 25th. The software maker reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $12.14 million during the quarter, compared to analyst estimates of $11.57 million. Mitek Systems had a net margin of 18.57% and a return on equity of 9.45%. Mitek Systems’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. analysts predict that Mitek Systems, Inc. will post 0.08 earnings per share for the current fiscal year.
About Mitek Systems
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.
Want to see what other hedge funds are holding MITK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitek Systems, Inc. (NASDAQ:MITK).
Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with MarketBeat.com's FREE daily email newsletter.