Marshall Wace LLP Grows Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

Marshall Wace LLP grew its position in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 2,115.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 859,123 shares of the software maker's stock after buying an additional 820,349 shares during the quarter. Marshall Wace LLP owned 1.90% of Mitek Systems worth $9,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MITK. Avior Wealth Management LLC lifted its position in shares of Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock worth $96,000 after purchasing an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Mitek Systems during the 4th quarter worth approximately $105,000. Y Intercept Hong Kong Ltd acquired a new stake in Mitek Systems during the 4th quarter worth approximately $114,000. Lazari Capital Management Inc. purchased a new position in Mitek Systems in the 4th quarter valued at approximately $117,000. Finally, Kingsview Wealth Management LLC grew its stake in shares of Mitek Systems by 16.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock worth $230,000 after acquiring an additional 2,865 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Mitek Systems Stock Up 0.2 %

NASDAQ:MITK traded up $0.02 during trading hours on Friday, hitting $8.32. The company's stock had a trading volume of 184,089 shares, compared to its average volume of 570,693. Mitek Systems, Inc. has a 52-week low of $6.93 and a 52-week high of $14.32. 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 stock has a market capitalization of $376.43 million, a P/E ratio of 92.44 and a beta of 1.15. The stock has a fifty day moving average of $8.56 and a 200-day moving average of $9.36.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. On average, equities analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at Mitek Systems

In related news, CEO Edward H. West purchased 55,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the purchase, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at $506,550. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MITK. Maxim Group increased their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.