4D Advisors LLC Acquires Shares of 300,000 Mitek Systems, Inc. (NASDAQ:MITK)

4D Advisors LLC bought a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 300,000 shares of the software maker's stock, valued at approximately $3,339,000. Mitek Systems accounts for approximately 2.3% of 4D Advisors LLC's portfolio, making the stock its 21st biggest holding. 4D Advisors LLC owned 0.66% of Mitek Systems as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Mitek Systems in the fourth quarter valued at $31,000. Canada Pension Plan Investment Board purchased a new position in Mitek Systems during the 4th quarter valued at about $39,000. Avior Wealth Management LLC increased its holdings in Mitek Systems by 24.7% during the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock valued at $96,000 after acquiring an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Mitek Systems during the fourth quarter worth about $105,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Mitek Systems in the fourth quarter valued at about $114,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mitek Systems Trading Up 1.7 %

Shares of MITK stock traded up $0.14 during mid-day trading on Wednesday, hitting $8.50. 66,120 shares of the company's stock were exchanged, compared to its average volume of 565,003. The stock has a 50-day simple moving average of $8.38 and a two-hundred day simple moving average of $9.33. 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 fifty-two week low of $6.93 and a fifty-two week high of $14.32. The stock has a market cap of $384.75 million, a price-to-earnings ratio of 94.56 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share 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 Transactions at Mitek Systems

In related news, CEO Edward H. West purchased 55,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

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.