Cubist Systematic Strategies LLC Buys New Stake in Mitek Systems, Inc. (NASDAQ:MITK)

Cubist Systematic Strategies LLC bought a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 62,571 shares of the software maker's stock, valued at approximately $696,000. Cubist Systematic Strategies LLC owned about 0.14% of Mitek Systems at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MITK. Dimensional Fund Advisors LP grew its position in Mitek Systems by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,798,287 shares of the software maker's stock worth $20,016,000 after purchasing an additional 112,513 shares during the last quarter. Invesco Ltd. grew its position in Mitek Systems by 534.4% during the 4th quarter. Invesco Ltd. now owns 1,722,099 shares of the software maker's stock worth $19,167,000 after purchasing an additional 1,450,652 shares during the last quarter. Marshall Wace LLP grew its position in Mitek Systems by 2,115.7% during the 4th quarter. Marshall Wace LLP now owns 859,123 shares of the software maker's stock worth $9,562,000 after purchasing an additional 820,349 shares during the last quarter. Ameriprise Financial Inc. grew its position in Mitek Systems by 1.5% during the 4th quarter. Ameriprise Financial Inc. now owns 655,656 shares of the software maker's stock worth $7,297,000 after purchasing an additional 9,894 shares during the last quarter. Finally, Foundry Partners LLC grew its position in Mitek Systems by 44.2% during the 4th quarter. Foundry Partners LLC now owns 500,610 shares of the software maker's stock worth $5,572,000 after purchasing an additional 153,415 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Stock Up 0.5%

Shares of NASDAQ MITK opened at $9.65 on Friday. 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 52 week low of $6.93 and a 52 week high of $14.04. The firm has a 50-day moving average price of $8.42 and a 200 day moving average price of $9.35. The stock has a market capitalization of $436.60 million, a price-to-earnings ratio of 107.22 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The firm had revenue of $51.93 million during the quarter, compared to analysts' expectations of $47.21 million. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Mitek Systems from a "buy" rating to a "strong-buy" rating in a research note on Monday. 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, Maxim Group raised their target price on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $12.88.

Insider Activity at Mitek Systems

In related news, CEO Edward H. West acquired 55,000 shares of Mitek Systems stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the purchase, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at approximately $506,550. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

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