Mackenzie Financial Corp Makes New Investment in Mitek Systems, Inc. (NASDAQ:MITK)

Mackenzie Financial Corp bought a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 61,260 shares of the software maker's stock, valued at approximately $505,000. Mackenzie Financial Corp owned 0.14% of Mitek Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MITK. Millennium Management LLC boosted its position in Mitek Systems by 159.7% during the fourth quarter. Millennium Management LLC now owns 83,390 shares of the software maker's stock valued at $928,000 after purchasing an additional 51,275 shares during the last quarter. Rhumbline Advisers increased its position in Mitek Systems by 3.8% in the 1st quarter. Rhumbline Advisers now owns 65,999 shares of the software maker's stock worth $544,000 after purchasing an additional 2,396 shares during the last quarter. Barclays PLC raised its stake in shares of Mitek Systems by 5.0% during the 4th quarter. Barclays PLC now owns 82,142 shares of the software maker's stock worth $914,000 after purchasing an additional 3,933 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Mitek Systems during the 4th quarter valued at about $272,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Mitek Systems by 3.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,600 shares of the software maker's stock valued at $674,000 after buying an additional 1,803 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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 report on Saturday, June 21st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $12.88.

Insider Transactions at Mitek Systems

In other news, insider Michael E. Diamond sold 70,352 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 233,340 shares in the company, valued at approximately $2,279,731.80. The trade was a 23.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Mitek Systems Price Performance

Mitek Systems stock opened at $9.13 on Friday. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $11.78. The company's fifty day moving average price is $9.64 and its two-hundred day moving average price is $9.27. The company has a market capitalization of $413.04 million, a price-to-earnings ratio of 32.61 and a beta of 1.13.

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

Want to see what other hedge funds are holding MITK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitek Systems, Inc. (NASDAQ:MITK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.