Two Sigma Investments LP Grows Position in Mitek Systems, Inc. (NASDAQ:MITK)

Two Sigma Investments LP lifted its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 179.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 247,306 shares of the software maker's stock after purchasing an additional 158,672 shares during the quarter. Two Sigma Investments LP owned about 0.55% of Mitek Systems worth $2,753,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Mitek Systems during the fourth quarter worth about $31,000. Canada Pension Plan Investment Board acquired a new stake in shares of Mitek Systems during the fourth quarter worth about $39,000. Ancora Advisors LLC purchased a new stake in Mitek Systems during the 4th quarter worth about $67,000. KLP Kapitalforvaltning AS purchased a new stake in Mitek Systems during the 4th quarter worth about $105,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Mitek Systems during the 4th quarter worth about $114,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analyst Weigh In

MITK has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Maxim Group upped their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Wall Street Zen upgraded Mitek Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $12.88.

Mitek Systems Stock Up 3.3%

Shares of MITK traded up $0.31 during mid-day trading on Wednesday, reaching $9.77. The company's stock had a trading volume of 465,660 shares, compared to its average volume of 561,792. Mitek Systems, Inc. has a 12-month low of $6.93 and a 12-month high of $13.72. The stock has a market cap of $442.03 million, a PE ratio of 108.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The company's 50 day moving average is $8.59 and its 200 day moving average is $9.39.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released 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 16.53% and a net margin of 2.59%. The business had revenue of $51.93 million for the quarter, compared to the consensus estimate of $47.21 million. The business's revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Mitek Systems Company 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.