Susquehanna Fundamental Investments LLC Acquires Shares of 96,357 Mitek Systems, Inc. (NASDAQ:MITK)

Susquehanna Fundamental Investments LLC purchased a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 96,357 shares of the software maker's stock, valued at approximately $1,072,000. Susquehanna Fundamental Investments LLC owned 0.21% of Mitek Systems at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new stake in shares of Mitek Systems in the fourth quarter valued at about $39,000. Avior Wealth Management LLC boosted its stake in shares of Mitek Systems by 24.7% during the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock worth $96,000 after acquiring an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Mitek Systems during the 4th quarter worth approximately $105,000. Y Intercept Hong Kong Ltd purchased a new position in Mitek Systems in the 4th quarter valued at approximately $114,000. Finally, Lazari Capital Management Inc. purchased a new position in Mitek Systems in the 4th quarter valued at approximately $117,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MITK shares. StockNews.com cut Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. HC Wainwright restated a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, Maxim Group upped their price target on shares of Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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 that occurred on Thursday, February 20th. The stock was purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the transaction, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Mitek Systems Price Performance

Shares of NASDAQ:MITK remained flat at $8.42 during trading on Tuesday. 91,617 shares of the stock were exchanged, compared to its average volume of 565,323. 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 firm has a market cap of $380.95 million, a PE ratio of 93.56 and a beta of 1.11. The firm's fifty day moving average is $8.40 and its two-hundred day moving average is $9.33. Mitek Systems, Inc. has a twelve month low of $6.93 and a twelve month high of $14.32.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its earnings results 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 return on equity of 16.53% and a net margin of 2.59%. As a group, equities analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current 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.