Kings Path Partners LLC Trims Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Kings Path Partners LLC decreased its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 65.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 25,678 shares of the software maker's stock after selling 48,842 shares during the quarter. Kings Path Partners LLC owned 0.06% of Mitek Systems worth $212,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in Mitek Systems in the fourth quarter valued at about $31,000. Canada Pension Plan Investment Board bought a new position in shares of Mitek Systems during the 4th quarter valued at about $39,000. Ancora Advisors LLC bought a new position in shares of Mitek Systems during the 4th quarter valued at about $67,000. KLP Kapitalforvaltning AS bought a new position in shares of Mitek Systems during the 4th quarter valued at about $105,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Mitek Systems in the 4th quarter valued at approximately $114,000. 83.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MITK shares. HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a report on Tuesday, February 11th. Maxim Group upped their price objective on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Wall Street Zen raised Mitek Systems from a "buy" rating to a "strong-buy" rating in a report on Friday. One investment 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $12.88.

Mitek Systems Trading Up 1.5%

NASDAQ MITK traded up $0.14 during trading hours on Tuesday, hitting $9.56. 50,552 shares of the company's stock were exchanged, compared to its average volume of 561,196. The stock has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $9.39. The firm has a market cap of $432.53 million, a price-to-earnings ratio of 106.22 and a beta of 1.11. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 1-year low of $6.93 and a 1-year high of $13.72.

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

Mitek Systems 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.