Mitek Systems’ (MITK) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Mitek Systems (NASDAQ:MITK) in a report issued on Tuesday, Benzinga reports. They currently have a $19.00 target price on the software maker’s stock.

Separately, StockNews.com downgraded Mitek Systems from a buy rating to a hold rating in a report on Thursday, March 21st.

Mitek Systems Stock Performance

Mitek Systems stock opened at $13.39 on Tuesday. The stock’s 50 day moving average price is $12.71 and its 200 day moving average price is $11.95. The firm has a market capitalization of $626.52 million, a PE ratio of 83.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69. Mitek Systems has a one year low of $8.77 and a one year high of $16.24.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The firm had revenue of $37.66 million for the quarter. As a group, sell-side analysts expect that Mitek Systems will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Mitek Systems

Several hedge funds and other institutional investors have recently bought and sold shares of MITK. Newtyn Management LLC purchased a new stake in Mitek Systems during the 4th quarter worth approximately $12,942,000. Tyro Capital Management LLC bought a new stake in shares of Mitek Systems in the 4th quarter valued at approximately $9,240,000. Renaissance Technologies LLC increased its holdings in shares of Mitek Systems by 1,460.5% in the 2nd quarter. Renaissance Technologies LLC now owns 518,100 shares of the software maker’s stock valued at $4,787,000 after acquiring an additional 484,900 shares during the last quarter. Blue Grotto Capital LLC increased its holdings in shares of Mitek Systems by 14.6% in the 1st quarter. Blue Grotto Capital LLC now owns 2,614,842 shares of the software maker’s stock valued at $38,359,000 after acquiring an additional 333,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Mitek Systems by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,382,729 shares of the software maker’s stock valued at $18,031,000 after acquiring an additional 210,178 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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.