Price T Rowe Associates Inc. MD Acquires 3,657 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Price T Rowe Associates Inc. MD increased its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,912 shares of the software maker’s stock after acquiring an additional 3,657 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.08% of Mitek Systems worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MITK. Canada Pension Plan Investment Board bought a new stake in Mitek Systems during the 4th quarter valued at about $39,000. Avior Wealth Management LLC boosted its holdings in shares of Mitek Systems by 24.7% in the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock worth $96,000 after buying an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Mitek Systems during the fourth quarter valued at approximately $105,000. Y Intercept Hong Kong Ltd purchased a new position in Mitek Systems during the fourth quarter valued at approximately $114,000. Finally, Lazari Capital Management Inc. purchased a new position in Mitek Systems during the fourth quarter valued at approximately $117,000. 83.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mitek Systems news, CEO Edward H. West purchased 55,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $9.21 per share, with a total value of $506,550.00. Following the transaction, the chief executive officer now owns 55,000 shares of the company’s stock, valued at approximately $506,550. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Mitek Systems Stock Performance

Mitek Systems stock opened at $9.60 on Thursday. The company’s 50-day moving average price is $8.41 and its 200-day moving average price is $9.34. Mitek Systems, Inc. has a twelve month low of $6.93 and a twelve month high of $14.18. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The company has a market cap of $434.34 million, a PE ratio of 106.67 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $51.93 million for the quarter, compared to the consensus estimate of $47.21 million. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MITK shares. Maxim Group lifted their price target on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, StockNews.com raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.88.

About Mitek Systems

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.