Millennium Management LLC Has $928,000 Position in Mitek Systems, Inc. (NASDAQ:MITK)

Millennium Management LLC grew its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 159.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,390 shares of the software maker's stock after buying an additional 51,275 shares during the period. Millennium Management LLC owned approximately 0.18% of Mitek Systems worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Mitek Systems in the 4th quarter valued at approximately $31,000. Canada Pension Plan Investment Board bought a new stake in Mitek Systems in the fourth quarter valued at approximately $39,000. Ancora Advisors LLC acquired a new stake in Mitek Systems in the fourth quarter worth $67,000. KLP Kapitalforvaltning AS bought a new position in shares of Mitek Systems during the fourth quarter worth $105,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Mitek Systems during the fourth quarter worth $114,000. Institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MITK shares. Maxim Group raised their price objective on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Wall Street Zen raised Mitek Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Finally, HC Wainwright reiterated a "buy" rating and issued a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $12.88.

Mitek Systems Stock Up 4.6%

MITK traded up $0.45 during trading on Friday, hitting $10.26. The company had a trading volume of 703,456 shares, compared to its average volume of 561,205. The company has a market capitalization of $464.20 million, a PE ratio of 114.00 and a beta of 1.15. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $13.72. The firm's 50-day moving average price is $8.66 and its 200 day moving average price is $9.42.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.10. The company 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 16.53% and a net margin of 2.59%. Mitek Systems's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts expect 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.