Quantinno Capital Management LP Buys 35,289 Shares of Mitek Systems, Inc. $MITK

Quantinno Capital Management LP raised its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 230.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 50,609 shares of the software maker’s stock after purchasing an additional 35,289 shares during the quarter. Quantinno Capital Management LP owned approximately 0.11% of Mitek Systems worth $683,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MITK. Squarepoint Ops LLC raised its stake in Mitek Systems by 2.5% during the fourth quarter. Squarepoint Ops LLC now owns 38,611 shares of the software maker’s stock worth $407,000 after buying an additional 944 shares during the last quarter. Aristides Capital LLC grew its holdings in Mitek Systems by 4.5% during the 4th quarter. Aristides Capital LLC now owns 55,434 shares of the software maker’s stock worth $585,000 after acquiring an additional 2,380 shares during the period. Deutsche Bank AG grew its holdings in Mitek Systems by 7.0% during the 4th quarter. Deutsche Bank AG now owns 37,329 shares of the software maker’s stock worth $394,000 after acquiring an additional 2,431 shares during the period. Royal Bank of Canada raised its position in shares of Mitek Systems by 21.2% in the 4th quarter. Royal Bank of Canada now owns 14,954 shares of the software maker’s stock worth $158,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Mitek Systems by 17.9% in the 4th quarter. Intech Investment Management LLC now owns 19,303 shares of the software maker’s stock valued at $204,000 after purchasing an additional 2,924 shares during the period. 83.64% of the stock is owned by institutional investors.

Mitek Systems Stock Performance

Shares of MITK stock opened at $18.18 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $18.06 and a two-hundred day simple moving average of $15.50. Mitek Systems, Inc. has a 12 month low of $8.53 and a 12 month high of $21.05. The firm has a market capitalization of $820.32 million, a PE ratio of 38.68 and a beta of 0.98.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, August 6th. The software maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $54.04 million for the quarter, compared to analyst estimates of $50.82 million. Mitek Systems had a net margin of 11.39% and a return on equity of 19.16%. Analysts forecast that Mitek Systems, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on MITK. Maxim Group set a $26.00 target price on Mitek Systems in a research note on Friday, August 7th. Wall Street Zen raised Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Mitek Systems in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.33.

Mitek Systems Company Profile

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.