Wesbanco Bank Inc. bought a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 78,000 shares of the software maker's stock, valued at approximately $1,100,000. Wesbanco Bank Inc. owned about 0.17% of Mitek Systems at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James & Associates grew its stake in shares of Mitek Systems by 1.8% during the fourth quarter. Raymond James & Associates now owns 73,243 shares of the software maker's stock worth $955,000 after acquiring an additional 1,274 shares during the last quarter. Covestor Ltd increased its stake in Mitek Systems by 32.3% during the 3rd quarter. Covestor Ltd now owns 6,107 shares of the software maker's stock valued at $65,000 after purchasing an additional 1,492 shares in the last quarter. Wisconsin Capital Management LLC raised its holdings in shares of Mitek Systems by 0.6% in the third quarter. Wisconsin Capital Management LLC now owns 328,600 shares of the software maker's stock worth $3,523,000 after buying an additional 1,950 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Mitek Systems by 5.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 40,731 shares of the software maker's stock worth $437,000 after buying an additional 2,139 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Mitek Systems by 30.1% during the third quarter. Principal Financial Group Inc. now owns 17,136 shares of the software maker's stock valued at $184,000 after buying an additional 3,960 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have commented on MITK shares. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Mitek Systems in a research report on Tuesday, April 16th. StockNews.com upgraded Mitek Systems from a "hold" rating to a "buy" rating in a research report on Wednesday, April 17th. Finally, Craig Hallum raised their price target on shares of Mitek Systems from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th.
Check Out Our Latest Stock Report on MITK
Mitek Systems Stock Performance
Shares of NASDAQ MITK traded up $0.29 during trading on Friday, reaching $13.38. 600,250 shares of the company traded hands, compared to its average volume of 785,271. The stock has a market cap of $626.05 million, a P/E ratio of -191.12 and a beta of 1.12. The firm's fifty day simple moving average is $12.82 and its 200 day simple moving average is $12.11. The company has a current ratio of 4.70, a quick ratio of 4.70 and a debt-to-equity ratio of 0.64. Mitek Systems, Inc. has a 12-month low of $8.88 and a 12-month high of $16.24.
Mitek Systems (NASDAQ:MITK - Get Free Report) last announced its quarterly earnings results on Monday, April 15th. The software maker reported $0.08 earnings per share for the quarter. The company had revenue of $36.92 million during the quarter. Mitek Systems had a positive return on equity of 13.13% and a negative net margin of 1.97%. As a group, research analysts anticipate that Mitek Systems, Inc. will post 0.78 earnings per share for the current fiscal year.
About Mitek Systems
(
Free Report)
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.
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