Jefferies Financial Group Inc. Buys Shares of 314,473 Mitek Systems, Inc. (NASDAQ:MITK)

Jefferies Financial Group Inc. acquired a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 314,473 shares of the software maker's stock, valued at approximately $3,500,000. Jefferies Financial Group Inc. owned approximately 0.70% of Mitek Systems as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Avior Wealth Management LLC increased its stake in shares of Mitek Systems by 24.7% in the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock valued at $96,000 after acquiring an additional 1,700 shares in the last quarter. Quarry LP acquired a new stake in Mitek Systems in the 4th quarter valued at $31,000. Kingsview Wealth Management LLC grew its position in Mitek Systems by 16.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock valued at $230,000 after purchasing an additional 2,865 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Mitek Systems in the 4th quarter valued at $39,000. Finally, Price T Rowe Associates Inc. MD grew its position in Mitek Systems by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,912 shares of the software maker's stock valued at $411,000 after purchasing an additional 3,657 shares during the period. Institutional investors own 83.64% of the company's stock.

Insider Transactions at Mitek Systems

In related news, CEO Edward H. West purchased 55,000 shares of Mitek Systems stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 55,000 shares in the company, valued at $506,550. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

MITK has been the subject of several research reports. StockNews.com raised shares of Mitek Systems from a "buy" rating to a "strong-buy" rating in a research report on Monday. 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 report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.88.

Mitek Systems Stock Up 1.2%

Mitek Systems stock traded up $0.12 during midday trading on Friday, hitting $9.77. 427,566 shares of the stock were exchanged, compared to its average volume of 566,390. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $442.03 million, a price-to-earnings ratio of 108.56 and a beta of 1.11. Mitek Systems, Inc. has a 52-week low of $6.93 and a 52-week high of $14.04. The business's 50-day moving average price is $8.42 and its 200-day moving average price is $9.35.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its earnings results on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The firm had revenue of $51.93 million for the quarter, compared to analysts' expectations of $47.21 million. The business's quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts expect 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.