Mitek Systems, Inc. (NASDAQ:MITK) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 655,656 shares of the software maker’s stock after purchasing an additional 9,894 shares during the quarter. Ameriprise Financial Inc. owned about 1.45% of Mitek Systems worth $7,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ancora Advisors LLC purchased a new position in Mitek Systems during the fourth quarter worth about $67,000. 4D Advisors LLC purchased a new stake in shares of Mitek Systems in the 4th quarter valued at approximately $3,339,000. Northern Trust Corp lifted its holdings in shares of Mitek Systems by 2.4% in the 4th quarter. Northern Trust Corp now owns 440,596 shares of the software maker’s stock worth $4,904,000 after acquiring an additional 10,377 shares during the last quarter. Quarry LP purchased a new position in shares of Mitek Systems during the 4th quarter worth approximately $31,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Mitek Systems during the 4th quarter worth approximately $411,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Mitek Systems Trading Down 2.3%

Shares of MITK stock opened at $9.55 on Thursday. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $13.72. The company has a 50 day moving average price of $8.49 and a 200 day moving average price of $9.38. The stock has a market capitalization of $432.08 million, a P/E ratio of 106.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59.

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 during the quarter, compared to analysts’ expectations of $47.21 million. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MITK shares. StockNews.com raised Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 12th. Maxim Group boosted their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, 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. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $12.88.

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.