BNP Paribas Financial Markets Raises Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

BNP Paribas Financial Markets boosted its stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 105.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,837 shares of the software maker's stock after acquiring an additional 87,259 shares during the period. BNP Paribas Financial Markets owned 0.38% of Mitek Systems worth $1,890,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MITK. Avior Wealth Management LLC boosted its position in shares of Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock valued at $96,000 after purchasing an additional 1,700 shares in the last quarter. Quarry LP bought a new position in shares of Mitek Systems in the 4th quarter worth about $31,000. Kingsview Wealth Management LLC increased its stake in shares of Mitek Systems by 16.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock worth $230,000 after acquiring an additional 2,865 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Mitek Systems during the 4th quarter valued at about $39,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Mitek Systems by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,912 shares of the software maker's stock worth $411,000 after acquiring an additional 3,657 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Maxim Group raised their target price on shares of Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, Wall Street Zen cut Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.88.

Mitek Systems Stock Up 2.0%

Shares of NASDAQ MITK traded up $0.19 during midday trading on Thursday, hitting $9.74. The stock had a trading volume of 103,562 shares, compared to its average volume of 560,711. The business's 50 day moving average is $8.49 and its 200-day moving average is $9.38. Mitek Systems, Inc. has a 52 week low of $6.93 and a 52 week high of $13.72. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The company has a market cap of $440.68 million, a P/E ratio of 108.09 and a beta of 1.11.

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

Mitek Systems 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.