Mitek Systems (NASDAQ:MITK) Reaches New 1-Year High at $14.99

Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $14.99 and last traded at $14.75, with a volume of 120671 shares traded. The stock had previously closed at $14.25.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com lowered shares of Mitek Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 21st. HC Wainwright reissued a "buy" rating and issued a $19.00 price target on shares of Mitek Systems in a report on Wednesday, March 20th. Finally, Craig Hallum started coverage on shares of Mitek Systems in a research report on Thursday, December 14th. They issued a "buy" rating and a $17.00 price objective on the stock.

Mitek Systems Stock Up 2.5 %

The firm's 50-day simple moving average is $12.48 and its 200 day simple moving average is $11.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69. The stock has a market capitalization of $683.13 million, a P/E ratio of 91.26 and a beta of 1.09.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 earnings per share for the quarter. The company had revenue of $37.66 million for the quarter. Mitek Systems had a net margin of 4.25% and a return on equity of 17.83%. As a group, research analysts expect that Mitek Systems, Inc. will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MITK. North Star Investment Management Corp. grew its stake in Mitek Systems by 4,261.7% in the 4th quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker's stock valued at $1,521,000 after buying an additional 114,000 shares during the last quarter. B. Riley Asset Management LLC grew its stake in Mitek Systems by 28.9% in the 3rd quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker's stock valued at $7,707,000 after buying an additional 161,246 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Mitek Systems by 77.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker's stock valued at $4,602,000 after buying an additional 186,746 shares during the last quarter. Impax Asset Management Group plc grew its stake in Mitek Systems by 13.5% in the 3rd quarter. Impax Asset Management Group plc now owns 510,349 shares of the software maker's stock valued at $5,471,000 after buying an additional 60,794 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Mitek Systems by 427.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 235,033 shares of the software maker's stock valued at $2,520,000 after buying an additional 190,481 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.