Mitek Systems (NASDAQ:MITK) Hits New 52-Week High at $15.20

Mitek Systems, Inc. (NASDAQ:MITK)’s stock price reached a new 52-week high on Monday . The stock traded as high as $15.20 and last traded at $15.20, with a volume of 12984 shares changing hands. The stock had previously closed at $14.63.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Craig Hallum raised their price target on Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a report on Tuesday.

Mitek Systems Trading Down 9.7 %

The company has a market capitalization of $626.52 million, a PE ratio of 83.69 and a beta of 1.09. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $12.71 and a two-hundred day moving average of $11.95.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 earnings per share for the quarter. The company had revenue of $37.66 million for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. As a group, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mitek Systems

Large investors have recently bought and sold shares of the stock. Impax Asset Management Group plc increased its stake in Mitek Systems by 41.1% in the 4th quarter. Impax Asset Management Group plc now owns 720,349 shares of the software maker’s stock worth $9,393,000 after purchasing an additional 210,000 shares during the period. North Star Investment Management Corp. increased its stake in Mitek Systems by 4,261.7% in the 4th quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker’s stock worth $1,521,000 after purchasing an additional 114,000 shares during the period. B. Riley Asset Management LLC increased its stake in Mitek Systems by 28.9% in the 3rd quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker’s stock worth $7,707,000 after purchasing an additional 161,246 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Mitek Systems by 77.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker’s stock worth $4,602,000 after purchasing an additional 186,746 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Mitek Systems by 427.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 235,033 shares of the software maker’s stock worth $2,520,000 after purchasing an additional 190,481 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.