Impax Asset Management Group plc Raises Holdings in Mitek Systems, Inc. $MITK

Impax Asset Management Group plc boosted its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 40.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,195,000 shares of the software maker’s stock after buying an additional 345,000 shares during the quarter. Impax Asset Management Group plc owned approximately 2.62% of Mitek Systems worth $11,675,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in shares of Mitek Systems in the third quarter worth $39,000. Tower Research Capital LLC TRC increased its position in Mitek Systems by 320.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock worth $60,000 after purchasing an additional 4,586 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Mitek Systems by 13.6% in 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 during the last quarter. AlphaQuest LLC purchased a new position in Mitek Systems in the 3rd quarter valued at about $130,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Mitek Systems during the 2nd quarter worth about $136,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Mitek Systems Stock Performance

MITK opened at $11.16 on Thursday. Mitek Systems, Inc. has a 1 year low of $6.93 and a 1 year high of $12.00. The firm has a 50 day moving average price of $10.27 and a 200 day moving average price of $9.79. The company has a market cap of $505.77 million, a PE ratio of 31.89 and a beta of 1.07.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Mitek Systems had a net margin of 8.67% and a return on equity of 16.86%. The firm had revenue of $44.24 million for the quarter, compared to analysts’ expectations of $42.44 million. On average, sell-side analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MITK. Weiss Ratings reissued a “hold (c)” rating on shares of Mitek Systems in a research note on Monday, December 29th. Wall Street Zen upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Mitek Systems currently has an average rating of “Hold”.

Mitek Systems Profile

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.