Infinitum Asset Management LLC Acquires New Shares in Mitek Systems, Inc. (NASDAQ:MITK)

Infinitum Asset Management LLC acquired a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the software maker's stock, valued at approximately $556,000. Mitek Systems accounts for approximately 0.3% of Infinitum Asset Management LLC's holdings, making the stock its 18th biggest holding. Infinitum Asset Management LLC owned about 0.11% of Mitek Systems as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Mitek Systems by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker's stock worth $237,000 after buying an additional 4,237 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Mitek Systems by 24.7% in the fourth 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 period. Lazari Capital Management Inc. purchased a new stake in shares of Mitek Systems during the 4th quarter worth $117,000. Kingsview Wealth Management LLC grew its stake in shares of Mitek Systems by 16.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock worth $230,000 after purchasing an additional 2,865 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Mitek Systems in the 4th quarter valued at about $114,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on MITK shares. Maxim Group boosted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Wall Street Zen cut Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $13.00 price objective on shares of Mitek Systems in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Mitek Systems currently has an average rating of "Moderate Buy" and an average price target of $12.88.

Mitek Systems Price Performance

Shares of Mitek Systems stock traded down $0.03 during trading on Thursday, hitting $9.18. 283,001 shares of the company were exchanged, compared to its average volume of 560,051. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two 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 firm has a 50 day moving average price of $8.53 and a 200 day moving average price of $9.39. The stock has a market capitalization of $415.34 million, a price-to-earnings ratio of 102.00 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $51.93 million during 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%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

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.