SG Americas Securities LLC Purchases New Stake in Mitek Systems, Inc. (NASDAQ:MITK)

SG Americas Securities LLC purchased a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,088 shares of the software maker’s stock, valued at approximately $148,000.

A number of other hedge funds have also recently modified their holdings of MITK. The Manufacturers Life Insurance Company boosted its holdings in shares of Mitek Systems by 12.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,937 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,923 shares during the period. EVR Research LP bought a new position in Mitek Systems during the 2nd quarter valued at approximately $2,957,000. Squarepoint Ops LLC purchased a new stake in Mitek Systems in the 2nd quarter worth approximately $138,000. Marshall Wace LLP grew its position in shares of Mitek Systems by 251.1% in the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after buying an additional 221,116 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new position in shares of Mitek Systems during the second quarter valued at approximately $463,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Mitek Systems Price Performance

Shares of MITK opened at $8.74 on Friday. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The firm’s 50-day simple moving average is $8.80 and its two-hundred day simple moving average is $10.98. The stock has a market cap of $403.79 million, a PE ratio of -58.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $45.00 million during the quarter, compared to analysts’ expectations of $47.99 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. Analysts anticipate that Mitek Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MITK has been the subject of a number of research analyst reports. HC Wainwright dropped their price target on Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. Maxim Group reduced their target price on Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Craig Hallum decreased their target price on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Mitek Systems has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

Mitek Systems 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.