Integrated Quantitative Investments LLC Purchases Shares of 34,200 Mitek Systems, Inc. (NASDAQ:MITK)

Integrated Quantitative Investments LLC acquired a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 34,200 shares of the software maker’s stock, valued at approximately $381,000. Integrated Quantitative Investments LLC owned about 0.08% of Mitek Systems as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Impax Asset Management Group plc purchased a new position in Mitek Systems during the fourth quarter valued at approximately $5,565,000. Foundry Partners LLC lifted its stake in shares of Mitek Systems by 44.2% in the 4th quarter. Foundry Partners LLC now owns 500,610 shares of the software maker’s stock valued at $5,572,000 after purchasing an additional 153,415 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Mitek Systems by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 399,905 shares of the software maker’s stock valued at $4,451,000 after purchasing an additional 136,949 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mitek Systems during the fourth quarter worth $1,259,000. Finally, Tocqueville Asset Management L.P. grew its position in Mitek Systems by 45.4% during the fourth quarter. Tocqueville Asset Management L.P. now owns 256,300 shares of the software maker’s stock valued at $2,853,000 after buying an additional 80,000 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Mitek Systems Trading Down 4.6 %

MITK stock opened at $7.47 on Friday. Mitek Systems, Inc. has a 12-month low of $7.31 and a 12-month high of $16.24. The business’s 50-day moving average is $9.41 and its 200 day moving average is $9.45. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The stock has a market cap of $337.97 million, a price-to-earnings ratio of 83.00 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. On average, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at Mitek Systems

In other Mitek Systems news, CEO Edward H. West purchased 55,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the transaction, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

MITK has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $13.00 target price on shares of Mitek Systems in a research note on Tuesday, February 11th. StockNews.com downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, Maxim Group boosted their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Mitek Systems has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

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.