Susquehanna Fundamental Investments LLC Makes New Investment in Mitek Systems, Inc. (NASDAQ:MITK)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Mitek Systems by 534.4% in the fourth quarter. Invesco Ltd. now owns 1,722,099 shares of the software maker's stock worth $19,167,000 after acquiring an additional 1,450,652 shares in the last quarter. Marshall Wace LLP boosted its stake in Mitek Systems by 2,115.7% in the 4th quarter. Marshall Wace LLP now owns 859,123 shares of the software maker's stock worth $9,562,000 after purchasing an additional 820,349 shares in the last quarter. Impax Asset Management Group plc bought a new stake in Mitek Systems during the 4th quarter valued at about $5,565,000. Phoenix Financial Ltd. bought a new stake in Mitek Systems during the 4th quarter valued at about $4,733,000. Finally, Cannell Capital LLC purchased a new position in Mitek Systems in the fourth quarter worth about $2,164,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MITK. HC Wainwright restated a "buy" rating and issued a $13.00 price objective on shares of Mitek Systems in a report on Tuesday, February 11th. Maxim Group upped their price target on Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, StockNews.com downgraded Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.88.

Insider Activity

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the transaction, the chief executive officer now owns 55,000 shares of the company's stock, valued at $506,550. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company's stock.

Mitek Systems Stock Performance

NASDAQ:MITK traded up $0.02 during trading hours on Wednesday, reaching $8.38. The company had a trading volume of 27,977 shares, compared to its average volume of 564,874. The firm's 50 day moving average price is $8.38 and its 200-day moving average price is $9.33. The firm has a market cap of $379.10 million, a price-to-earnings ratio of 93.11 and a beta of 1.11. 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 52 week low of $6.93 and a 52 week high of $14.32.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS 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%. On average, 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.