Pacer Advisors Inc. Invests $2.31 Million in Mitek Systems, Inc. $MITK

Key Points

• Pacer Advisors acquired 171,274 shares of Mitek Systems valued at approximately $2.31 million, while institutional investors collectively own 83.64% of the company.
• Mitek reported fiscal third-quarter EPS of $0.34 and revenue of $54.04 million, beating analyst expectations. Management also projected fiscal 2026 revenue of $195 million to $200 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $19.33 target price. The stock opened at $18.49, compared with a 52-week range of $8.53 to $21.05.

Pacer Advisors Inc. acquired a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 171,274 shares of the software maker's stock, valued at approximately $2,312,000. Pacer Advisors Inc. owned approximately 0.38% of Mitek Systems at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Tudor Investment Corp ET AL raised its stake in shares of Mitek Systems by 1,026.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker's stock worth $2,255,000 after purchasing an additional 210,352 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Mitek Systems during the 4th quarter valued at about $1,124,000. Impax Asset Management Group plc grew its stake in shares of Mitek Systems by 8.4% in the 4th quarter. Impax Asset Management Group plc now owns 1,295,000 shares of the software maker's stock valued at $13,662,000 after buying an additional 100,000 shares in the last quarter. Skylands Capital LLC grew its stake in shares of Mitek Systems by 34.3% in the 4th quarter. Skylands Capital LLC now owns 302,616 shares of the software maker's stock valued at $3,193,000 after buying an additional 77,320 shares in the last quarter. Finally, Anson Funds Management LP acquired a new position in Mitek Systems in the first quarter worth approximately $998,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Zacks Research lowered shares of Mitek Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Mitek Systems from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Maxim Group set a $26.00 price target on shares of Mitek Systems in a research note on Friday. Northland Securities set a $17.00 price target on shares of Mitek Systems in a report on Wednesday, April 15th. Finally, Weiss Ratings raised shares of Mitek Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.33.

Mitek Systems News Roundup

Here are the key news stories impacting Mitek Systems this week:

• Positive Sentiment: Mitek reported fiscal Q3 EPS of $0.34, up from $0.22 a year earlier and ahead of analyst estimates ranging from $0.26 to $0.28. Revenue reached $54.04 million, exceeding the approximately $50.8 million consensus forecast. Mitek Systems Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management projected fiscal 2026 revenue of $195 million to $200 million, above the $194.3 million analyst consensus. The outlook suggests continued demand for Mitek’s digital identity and fraud-prevention products. Mitek Systems Fiscal Q3 Earnings Snapshot
• Positive Sentiment: The earnings beat was supported by solid profitability, including a reported 8.74% net margin and 16.74% return on equity. The results and outlook provide a fundamental explanation for the stock’s increased trading activity. Mitek Systems Q3 2026 Earnings Call Transcript
• Neutral Sentiment: Fourth-quarter revenue guidance of $42 million to $47 million brackets the $44.4 million consensus estimate, indicating an outlook broadly in line with expectations. The company did not provide a specific EPS figure in the supplied guidance update. Compared to Estimates Mitek Systems Q3 Earnings Key Metrics

Insider Activity

In related news, COO Garrett Gafke sold 21,108 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $14.19, for a total transaction of $299,522.52. Following the completion of the sale, the chief operating officer directly owned 244,279 shares of the company's stock, valued at approximately $3,466,319.01. This represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Mitek Systems Stock Up 10.0%

MITK opened at $18.49 on Friday. The firm has a market cap of $835.01 million, a P/E ratio of 39.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.61 and a current ratio of 2.61. The business has a 50 day moving average price of $17.72 and a 200 day moving average price of $15.06. Mitek Systems, Inc. has a twelve month low of $8.53 and a twelve month high of $21.05.

Mitek Systems (NASDAQ:MITK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. Mitek Systems had a return on equity of 19.41% and a net margin of 11.39%.The company had revenue of $54.04 million for the quarter, compared to the consensus estimate of $50.82 million. Research analysts forecast that Mitek Systems, Inc. will post 0.86 EPS for the current year.

About Mitek Systems

Mitek Systems, Inc NASDAQ: MITK is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company's core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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