Tocqueville Asset Management L.P. Purchases 80,000 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Tocqueville Asset Management L.P. lifted its position in Mitek Systems, Inc. (NASDAQ:MITK) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,300 shares of the software maker’s stock after buying an additional 80,000 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.57% of Mitek Systems worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC acquired a new position in Mitek Systems during the 3rd quarter worth $60,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Mitek Systems during the 4th quarter worth about $114,000. Intech Investment Management LLC bought a new stake in Mitek Systems during the 3rd quarter valued at approximately $117,000. Lazari Capital Management Inc. acquired a new stake in Mitek Systems in the 4th quarter valued at approximately $117,000. Finally, Kingsview Wealth Management LLC increased its position in Mitek Systems by 16.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock worth $230,000 after buying an additional 2,865 shares during the period. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MITK shares. Maxim Group raised their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mitek Systems has an average rating of “Moderate Buy” and an average target price of $12.88.

Insider Activity

In related news, CEO Edward H. West purchased 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $9.21 per share, with a total value of $506,550.00. Following the purchase, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Mitek Systems Stock Down 1.0 %

Shares of MITK stock opened at $9.03 on Wednesday. The stock has a market cap of $408.55 million, a P/E ratio of 100.33 and a beta of 1.08. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The stock has a fifty day moving average price of $9.83 and a 200 day moving average price of $9.46. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

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.