Alpha Paradigm Partners LLC Invests $327,000 in Mitek Systems, Inc. (NASDAQ:MITK)

Alpha Paradigm Partners LLC purchased a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,969 shares of the software maker’s stock, valued at approximately $327,000.

Several other institutional investors have also bought and sold shares of the company. Sigma Planning Corp lifted its position in shares of Mitek Systems by 4.3% in the 2nd quarter. Sigma Planning Corp now owns 13,200 shares of the software maker’s stock worth $254,000 after buying an additional 550 shares during the last quarter. Stifel Financial Corp lifted its position in Mitek Systems by 8.7% in the 2nd quarter. Stifel Financial Corp now owns 19,032 shares of the software maker’s stock valued at $367,000 after purchasing an additional 1,528 shares during the last quarter. Geode Capital Management LLC lifted its position in Mitek Systems by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 730,725 shares of the software maker’s stock valued at $14,073,000 after purchasing an additional 25,762 shares during the last quarter. Vanguard Group Inc. lifted its position in Mitek Systems by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,425,108 shares of the software maker’s stock valued at $46,707,000 after purchasing an additional 71,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Mitek Systems by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 777,883 shares of the software maker’s stock worth $14,982,000 after buying an additional 122,382 shares in the last quarter. Institutional investors own 67.93% of the company’s stock.

A number of analysts have commented on the stock. Maxim Group boosted their price target on shares of Mitek Systems from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. TheStreet raised shares of Mitek Systems from a “c+” rating to a “b” rating in a research note on Friday, July 30th. HC Wainwright initiated coverage on shares of Mitek Systems in a research note on Thursday, August 12th. They issued a “buy” rating and a $27.00 price objective on the stock. Zacks Investment Research downgraded shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, October 5th. Finally, Northland Securities started coverage on shares of Mitek Systems in a research report on Wednesday, July 21st. They set a “buy” rating and a $21.50 price objective on the stock. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Mitek Systems currently has a consensus rating of “Buy” and a consensus price target of $24.10.

Shares of Mitek Systems stock opened at $18.35 on Thursday. The firm has a fifty day simple moving average of $20.40 and a 200-day simple moving average of $18.46. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 0.92. Mitek Systems, Inc. has a 1-year low of $11.27 and a 1-year high of $23.29. The stock has a market capitalization of $807.84 million, a price-to-earnings ratio of 70.58 and a beta of 0.27.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, July 29th. The software maker reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. Mitek Systems had a net margin of 9.53% and a return on equity of 17.05%. The business had revenue of $31.78 million during the quarter, compared to analysts’ expectations of $29.74 million. As a group, research analysts predict that Mitek Systems, Inc. will post 0.43 earnings per share for the current year.

Mitek Systems Company Profile

Mitek Systems, Inc engages in the innovation of mobile capture and digital identity verification solutions. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, Mobile Docs, A2iA CheckReader, A2iA XE, A2iA DocumentReader, A2iA TextReader, and ICAR ID_CLOUD. The company was founded in 1986 and is headquartered in San Diego, CA.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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