Semanteon Capital Management LP Buys New Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Semanteon Capital Management LP purchased a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 30,665 shares of the software maker’s stock, valued at approximately $341,000. Semanteon Capital Management LP owned about 0.07% of Mitek Systems as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. boosted its stake in Mitek Systems by 45.4% during the 4th quarter. Tocqueville Asset Management L.P. now owns 256,300 shares of the software maker’s stock valued at $2,853,000 after purchasing an additional 80,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Mitek Systems during the 4th quarter valued at about $1,259,000. Raymond James Financial Inc. acquired a new position in Mitek Systems during the 4th quarter valued at about $341,000. Victory Capital Management Inc. acquired a new position in Mitek Systems during the 4th quarter valued at about $284,000. Finally, Kovack Advisors Inc. boosted its stake in Mitek Systems by 62.6% during the 4th quarter. Kovack Advisors Inc. now owns 69,744 shares of the software maker’s stock valued at $776,000 after purchasing an additional 26,850 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Mitek Systems Price Performance

Mitek Systems stock opened at $9.17 on Friday. Mitek Systems, Inc. has a 12 month low of $7.35 and a 12 month high of $16.24. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $9.74 and its 200 day simple moving average is $9.46. The company has a market cap of $414.89 million, a price-to-earnings ratio of 101.89 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Sell-side analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $9.21 per share, with a total value of $506,550.00. Following the acquisition, the chief executive officer now directly owns 55,000 shares of the company’s stock, valued at $506,550. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

MITK has been the subject of a number of analyst reports. Maxim Group boosted their target price on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Mitek Systems in a research note on Tuesday, February 11th. Finally, StockNews.com downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Mitek Systems has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Mitek Systems Company 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.