Investors Buy Large Volume of Mitek Systems Call Options (NASDAQ:MITK)

Mitek Systems, Inc. (NASDAQ:MITK) saw unusually large options trading activity on Tuesday. Investors bought 3,686 call options on the stock. This is an increase of approximately 309% compared to the typical volume of 901 call options.

Analyst Ratings Changes

Several brokerages have recently commented on MITK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mitek Systems in a research report on Friday, March 27th. Zacks Research raised shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, Jefferies Financial Group raised shares of Mitek Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $15.00 in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Mitek Systems presently has an average rating of “Buy” and an average price target of $15.00.

Mitek Systems Stock Up 3.1%

Shares of MITK opened at $14.50 on Wednesday. Mitek Systems has a 12-month low of $7.54 and a 12-month high of $15.61. The business’s fifty day moving average is $13.61 and its 200 day moving average is $11.06. The stock has a market cap of $657.14 million, a P/E ratio of 41.43 and a beta of 1.03.

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

Hedge Funds Weigh In On Mitek Systems

A number of large investors have recently modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in shares of Mitek Systems by 2.5% in the 4th quarter. Squarepoint Ops LLC now owns 38,611 shares of the software maker’s stock worth $407,000 after purchasing an additional 944 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Mitek Systems by 13.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,100 shares of the software maker’s stock worth $118,000 after purchasing an additional 1,449 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Mitek Systems by 1.9% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 121,514 shares of the software maker’s stock worth $1,187,000 after purchasing an additional 2,225 shares in the last quarter. Aristides Capital LLC lifted its holdings in shares of Mitek Systems by 4.5% in the 4th quarter. Aristides Capital LLC now owns 55,434 shares of the software maker’s stock worth $585,000 after purchasing an additional 2,380 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Mitek Systems by 7.0% in the 4th quarter. Deutsche Bank AG now owns 37,329 shares of the software maker’s stock worth $394,000 after purchasing an additional 2,431 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Company 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.