Essex Investment Management Co. LLC boosted its position in Mitek Systems Inc. (NASDAQ:MITK) by 23.0% during the second quarter, Holdings Channel reports. The firm owned 261,159 shares of the company’s stock after buying an additional 48,776 shares during the period. Essex Investment Management Co. LLC’s holdings in Mitek Systems were worth $1,857,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. purchased a new stake in Mitek Systems during the second quarter worth $107,000. Bank of Montreal Can purchased a new stake in Mitek Systems during the second quarter worth $157,000. Acadian Asset Management LLC purchased a new stake in Mitek Systems during the second quarter worth $237,000. Palo Capital Inc. purchased a new stake in Mitek Systems during the second quarter worth $444,000. Finally, Strs Ohio purchased a new stake in Mitek Systems during the second quarter worth $453,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.
Mitek Systems Inc. (NASDAQ:MITK) traded up 0.24% during mid-day trading on Friday, hitting $8.29. The stock had a trading volume of 284,553 shares. Mitek Systems Inc. has a 1-year low of $3.07 and a 1-year high of $9.49. The company has a market cap of $271.31 million, a P/E ratio of 140.51 and a beta of 2.23. The company has a 50-day moving average price of $8.01 and a 200 day moving average price of $7.52.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company earned $9.10 million during the quarter, compared to analyst estimates of $8.31 million. Mitek Systems had a net margin of 5.94% and a return on equity of 14.96%. The company’s revenue was up 41.3% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. Equities research analysts forecast that Mitek Systems Inc. will post $0.25 EPS for the current fiscal year.
A number of equities research analysts have recently commented on MITK shares. Needham & Company LLC upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Monday, July 11th. TheStreet upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Roth Capital reiterated a “buy” rating and set a $9.75 price objective on shares of Mitek Systems in a research report on Thursday, June 2nd. Finally, Zacks Investment Research downgraded Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $8.63.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard.
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