Mitek Systems’ (MITK) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c-) rating on shares of Mitek Systems (NASDAQ:MITK) in a research note released on Tuesday morning,Weiss Ratings reports.

Separately, Wall Street Zen cut Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Mitek Systems Stock Down 1.9%

MITK opened at $8.98 on Tuesday. The firm has a market capitalization of $409.94 million, a P/E ratio of 27.21 and a beta of 1.07. The stock’s 50 day moving average price is $9.89 and its two-hundred day moving average price is $9.37. Mitek Systems has a 12-month low of $6.93 and a 12-month high of $11.78.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Tuesday, June 3rd. The software maker reported $0.36 earnings per share for the quarter. The company had revenue of $51.93 million for the quarter. Mitek Systems had a return on equity of 17.26% and a net margin of 8.71%. As a group, analysts anticipate that Mitek Systems will post 0.59 earnings per share for the current year.

Institutional Trading of Mitek Systems

Large investors have recently bought and sold shares of the business. CWM LLC grew its stake in shares of Mitek Systems by 17.6% in the 3rd quarter. CWM LLC now owns 26,682 shares of the software maker’s stock valued at $261,000 after buying an additional 3,986 shares during the period. Inspire Investing LLC bought a new stake in Mitek Systems during the 3rd quarter valued at $1,005,000. Harbor Capital Advisors Inc. grew its position in shares of Mitek Systems by 13.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,100 shares of the software maker’s stock valued at $118,000 after purchasing an additional 1,449 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Mitek Systems in the second quarter worth $814,000. Finally, State of Wyoming raised its stake in shares of Mitek Systems by 70.7% during the second quarter. State of Wyoming now owns 42,421 shares of the software maker’s stock valued at $420,000 after acquiring an additional 17,577 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.