Harbor Capital Advisors Inc. Purchases 2,175 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Harbor Capital Advisors Inc. boosted its position in Mitek Systems, Inc. (NASDAQ:MITK) by 24.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,083 shares of the software maker’s stock after acquiring an additional 2,175 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Mitek Systems were worth $91,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in Mitek Systems in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC increased its stake in Mitek Systems by 1,882.5% in the first quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker’s stock valued at $25,000 after acquiring an additional 2,899 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Mitek Systems in the fourth quarter valued at approximately $39,000. Ancora Advisors LLC bought a new position in Mitek Systems in the fourth quarter valued at approximately $67,000. Finally, KLP Kapitalforvaltning AS bought a new position in Mitek Systems in the fourth quarter valued at approximately $105,000. 83.64% of the stock is owned by institutional investors.

Mitek Systems Stock Performance

Shares of Mitek Systems stock opened at $9.72 on Monday. 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 debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The firm has a market capitalization of $439.77 million, a P/E ratio of 108.00 and a beta of 1.15. The company’s 50 day moving average price is $8.91 and its two-hundred day moving average price is $9.44.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 30th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mitek Systems 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.