Mitek Systems, Inc. (NASDAQ:MITK) Stock Position Raised by Marshall Wace LLP

Marshall Wace LLP boosted its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 2,115.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 859,123 shares of the software maker’s stock after purchasing an additional 820,349 shares during the period. Marshall Wace LLP’s holdings in Mitek Systems were worth $9,562,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in shares of Mitek Systems by 24.7% in the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock worth $96,000 after buying an additional 1,700 shares during the period. Kingsview Wealth Management LLC boosted its position in Mitek Systems by 16.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock worth $230,000 after acquiring an additional 2,865 shares during the period. Barclays PLC grew its stake in Mitek Systems by 5.0% during the 4th quarter. Barclays PLC now owns 82,142 shares of the software maker’s stock valued at $914,000 after acquiring an additional 3,933 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Mitek Systems by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker’s stock valued at $237,000 after purchasing an additional 4,237 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Mitek Systems by 21.4% in the fourth quarter. Wells Fargo & Company MN now owns 31,644 shares of the software maker’s stock worth $352,000 after purchasing an additional 5,574 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Mitek Systems Stock Performance

Shares of MITK opened at $7.68 on Tuesday. The firm has a market cap of $347.47 million, a price-to-earnings ratio of 85.33 and a beta of 1.15. The company’s fifty day moving average is $8.71 and its 200-day moving average is $9.38. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $14.32.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Equities analysts expect that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Edward H. West acquired 55,000 shares of Mitek Systems stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the purchase, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MITK has been the topic of a number of research analyst reports. Maxim Group boosted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, StockNews.com lowered Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Mitek Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

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.