Mitek Systems, Inc. (NASDAQ:MITK) Position Boosted by Impax Asset Management Group plc

Impax Asset Management Group plc increased its position in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 70.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 850,000 shares of the software maker's stock after acquiring an additional 350,000 shares during the period. Impax Asset Management Group plc owned approximately 1.88% of Mitek Systems worth $7,012,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in Mitek Systems by 24.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 11,083 shares of the software maker's stock valued at $91,000 after acquiring an additional 2,175 shares during the period. Rhumbline Advisers increased its holdings in shares of Mitek Systems by 3.8% during the first quarter. Rhumbline Advisers now owns 65,999 shares of the software maker's stock valued at $544,000 after purchasing an additional 2,396 shares during the period. GAMMA Investing LLC increased its holdings in shares of Mitek Systems by 1,882.5% during the first quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker's stock valued at $25,000 after purchasing an additional 2,899 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Mitek Systems during the fourth quarter valued at $3,500,000. Finally, Infinitum Asset Management LLC acquired a new position in Mitek Systems during the 4th quarter valued at about $556,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Mitek Systems Stock Performance

Shares of MITK stock traded down $0.42 during mid-day trading on Friday, hitting $9.81. 227,293 shares of the stock traded hands, compared to its average volume of 553,330. Mitek Systems, Inc. has a twelve month low of $6.93 and a twelve month high of $13.72. The firm has a market cap of $443.80 million, a price-to-earnings ratio of 35.04 and a beta of 1.15. The company's 50-day simple moving average is $9.50 and its 200-day simple moving average is $9.49.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its earnings results on Thursday, May 8th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.10. The firm had revenue of $51.93 million for the quarter, compared to analyst estimates of $47.21 million. Mitek Systems had a return on equity of 18.85% and a net margin of 7.51%. Mitek Systems's revenue was up 10.4% on a year-over-year basis. Analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Mitek Systems from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $12.88.

Insider Activity

In other news, insider Michael E. Diamond sold 70,352 shares of Mitek Systems stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $9.77, for a total value of $687,339.04. Following the transaction, the insider owned 233,340 shares of the company's stock, valued at $2,279,731.80. The trade was a 23.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

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.