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

Impax Asset Management Group plc raised its position in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 70.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 850,000 shares of the software maker's stock after purchasing an additional 350,000 shares during the quarter. Impax Asset Management Group plc owned 1.88% of Mitek Systems worth $7,012,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Mitek Systems by 1,882.5% during the 1st quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker's stock worth $25,000 after buying an additional 2,899 shares in the last quarter. Quarry LP purchased a new stake in Mitek Systems in the 4th quarter valued at approximately $31,000. Canada Pension Plan Investment Board acquired a new position in Mitek Systems during the fourth quarter worth $39,000. Ancora Advisors LLC acquired a new position in shares of Mitek Systems in the fourth quarter worth $67,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of Mitek Systems by 24.4% in the first quarter. Harbor Capital Advisors Inc. now owns 11,083 shares of the software maker's stock valued at $91,000 after purchasing an additional 2,175 shares during the period. Institutional investors own 83.64% of the company's stock.

Mitek Systems Trading Down 1.7%

NASDAQ:MITK traded down $0.17 on Wednesday, hitting $10.13. The company's stock had a trading volume of 140,129 shares, compared to its average volume of 551,554. The stock has a fifty day moving average of $9.57 and a two-hundred day moving average of $9.47. The firm has a market capitalization of $458.28 million, a P/E ratio of 36.18 and a beta of 1.15. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $13.72.

Mitek Systems (NASDAQ:MITK - Get Free Report) last announced its earnings results on Thursday, May 8th. The software maker reported $0.36 earnings per share 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 the consensus estimate of $47.21 million. Mitek Systems had a return on equity of 18.85% and a net margin of 7.51%. The business's revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Insider Transactions at Mitek Systems

In related news, insider Michael E. Diamond sold 70,352 shares of Mitek Systems stock in a transaction on Friday, June 13th. The shares were sold at an average price of $9.77, for a total transaction of $687,339.04. Following the transaction, the insider owned 233,340 shares in the company, valued at approximately $2,279,731.80. The trade was a 23.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Mitek Systems from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. One 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. Based on data from MarketBeat.com, Mitek Systems presently has an average rating of "Buy" and an average target price of $12.88.

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.