Renaissance Technologies LLC Buys 45,600 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Renaissance Technologies LLC raised its position in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 105.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,800 shares of the software maker's stock after purchasing an additional 45,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of Mitek Systems worth $988,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC grew 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 buying an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Mitek Systems in the fourth quarter worth approximately $105,000. Y Intercept Hong Kong Ltd bought a new stake in Mitek Systems in the fourth quarter worth approximately $114,000. Lazari Capital Management Inc. acquired a new position in shares of Mitek Systems during the 4th quarter worth $117,000. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Mitek Systems by 16.1% during 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 in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Maxim Group raised their target price on Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. StockNews.com lowered Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, HC Wainwright reiterated a "buy" rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.88.

Insiders Place Their Bets

In other Mitek Systems news, CEO Edward H. West purchased 55,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the purchase, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at approximately $506,550. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Mitek Systems Stock Performance

NASDAQ:MITK traded down $0.04 during mid-day trading on Tuesday, hitting $8.38. 215,679 shares of the company's stock traded hands, compared to its average volume of 566,989. The firm has a market capitalization of $379.33 million, a price-to-earnings ratio of 93.16 and a beta of 1.11. The firm has a 50 day moving average of $8.38 and a two-hundred day moving average of $9.33. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $14.32.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate 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 fiscal year.

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.