Mitek Systems, Inc. (NASDAQ:MITK) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,798,287 shares of the software maker's stock after purchasing an additional 112,513 shares during the quarter. Dimensional Fund Advisors LP owned about 3.98% of Mitek Systems worth $20,016,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MITK. Canada Pension Plan Investment Board purchased a new stake in Mitek Systems during the 4th quarter valued at about $39,000. Avior Wealth Management LLC boosted its holdings in shares of 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Mitek Systems in the fourth quarter worth approximately $105,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Mitek Systems in the fourth quarter worth approximately $114,000. Finally, Lazari Capital Management Inc. purchased a new position in shares of Mitek Systems in the fourth quarter worth approximately $117,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Trading Up 0.5%

NASDAQ MITK traded up $0.05 on Monday, hitting $9.79. 256,414 shares of the stock were exchanged, compared to its average volume of 569,350. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59. The stock has a fifty day moving average price of $8.37 and a two-hundred day moving average price of $9.33. The firm has a market capitalization of $442.80 million, a P/E ratio of 108.39 and a beta of 1.11. Mitek Systems, Inc. has a 52-week low of $6.93 and a 52-week high of $14.32.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on MITK. StockNews.com cut shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 11th. 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. Finally, Maxim Group lifted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.88.

Insider Activity

In related news, CEO Edward H. West bought 55,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the completion of the purchase, the chief executive officer now owns 55,000 shares of the company's stock, valued at $506,550. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company's stock.

About Mitek Systems

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.