Graham Capital Management L.P. Takes Position in Mitek Systems, Inc. (NASDAQ:MITK)

Graham Capital Management L.P. acquired a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 59,777 shares of the software maker's stock, valued at approximately $665,000. Graham Capital Management L.P. owned 0.13% of Mitek Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Mitek Systems by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker's stock valued at $2,280,000 after buying an additional 35,301 shares during the period. Barclays PLC increased its stake in shares of Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker's stock valued at $679,000 after acquiring an additional 60,256 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Mitek Systems in the 4th quarter valued at $114,000. Wells Fargo & Company MN lifted its position in shares of Mitek Systems by 21.4% during the 4th quarter. Wells Fargo & Company MN now owns 31,644 shares of the software maker's stock valued at $352,000 after acquiring an additional 5,574 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Mitek Systems by 105.7% during the fourth quarter. BNP Paribas Financial Markets now owns 169,837 shares of the software maker's stock worth $1,890,000 after acquiring an additional 87,259 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity at Mitek Systems

In other news, CEO Edward H. West bought 55,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $506,550. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Mitek Systems Stock Down 0.6%

Shares of NASDAQ MITK traded down $0.06 during mid-day trading on Tuesday, reaching $9.74. 41,628 shares of the company's stock traded hands, compared to its average volume of 560,917. 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 business has a 50-day simple moving average of $8.46 and a 200 day simple moving average of $9.37. The stock has a market cap of $440.68 million, a P/E ratio of 107.94 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 announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. The business had revenue of $51.93 million for the quarter, compared to analysts' expectations of $47.21 million. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The company's revenue was up 10.4% on a year-over-year basis. On average, analysts expect that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MITK. Maxim Group lifted their price target on shares of Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. StockNews.com raised Mitek Systems from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Mitek Systems in a research note on Tuesday, February 11th. 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 data from MarketBeat, Mitek Systems currently has a consensus rating of "Buy" and an average target price of $12.88.

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.