Two Sigma Advisers LP Boosts Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

Two Sigma Advisers LP lifted its position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 438.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,900 shares of the software maker's stock after purchasing an additional 101,700 shares during the quarter. Two Sigma Advisers LP owned 0.28% of Mitek Systems worth $1,390,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position 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 valued at $237,000 after acquiring an additional 4,237 shares during the period. Lazari Capital Management Inc. acquired a new position in Mitek Systems during the fourth quarter worth $117,000. Kingsview Wealth Management LLC increased its stake in shares of Mitek Systems by 16.1% during the fourth 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 in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Mitek Systems during the 4th quarter worth about $114,000. Finally, Impax Asset Management Group plc purchased a new position in Mitek Systems in the 4th quarter valued at about $5,565,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Mitek Systems Trading Up 1.7%

Mitek Systems stock traded up $0.16 during mid-day trading on Wednesday, hitting $9.62. The company's stock had a trading volume of 73,606 shares, compared to its average volume of 559,973. The stock's fifty day moving average is $8.56 and its two-hundred day moving average is $9.39. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $435.16 million, a PE ratio of 106.89 and a beta of 1.11. 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 released its quarterly 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 business 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 firm's quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current 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.