Mitek Systems (NASDAQ:MITK) Hits New 52-Week High at $15.20

Mitek Systems, Inc. (NASDAQ:MITK)’s stock price reached a new 52-week high on Monday . The stock traded as high as $15.20 and last traded at $15.20, with a volume of 12984 shares changing hands. The stock had previously closed at $14.63.

Analyst Ratings Changes

A number of equities analysts have commented on MITK shares. StockNews.com cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a research report on Tuesday. Finally, Craig Hallum lifted their price objective on shares of Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday.

Mitek Systems Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 3.69 and a quick ratio of 3.69. The stock’s 50-day simple moving average is $12.71 and its 200 day simple moving average is $11.95. The stock has a market capitalization of $626.52 million, a P/E ratio of 83.69 and a beta of 1.09.

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

Institutional Investors Weigh In On Mitek Systems

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in shares of Mitek Systems by 88.5% in the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after acquiring an additional 1,475 shares during the period. Point72 Middle East FZE bought a new stake in shares of Mitek Systems in the fourth quarter valued at about $40,000. Quarry LP boosted its position in shares of Mitek Systems by 536.0% in the first quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after acquiring an additional 3,993 shares during the period. Royal Bank of Canada boosted its position in shares of Mitek Systems by 66.4% in the third quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,977 shares during the period. Finally, Covestor Ltd boosted its position in shares of Mitek Systems by 32.3% in the third quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock valued at $65,000 after acquiring an additional 1,492 shares during the period. Institutional investors own 83.64% of the company’s stock.

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.