Mitek Systems (NASDAQ:MITK) Shares Gap Down to $14.83

Mitek Systems, Inc. (NASDAQ:MITK)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $14.83, but opened at $13.74. Mitek Systems shares last traded at $14.06, with a volume of 336,452 shares traded.

Analysts Set New Price Targets

MITK has been the topic of a number of research reports. StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research note on Tuesday.

Mitek Systems Stock Performance

The firm has a market capitalization of $644.77 million, a price-to-earnings ratio of 86.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.69 and a quick ratio of 3.69. The firm has a 50 day moving average price of $12.70 and a 200-day moving average price of $11.93.

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

Institutional Trading of Mitek Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Mitek Systems by 4.6% during the second quarter. BlackRock Inc. now owns 3,503,309 shares of the software maker’s stock worth $37,976,000 after purchasing an additional 153,649 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Mitek Systems by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock worth $44,065,000 after purchasing an additional 92,146 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Mitek Systems by 6.8% during the fourth quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock worth $39,711,000 after purchasing an additional 193,443 shares during the last quarter. Blue Grotto Capital LLC grew its holdings in shares of Mitek Systems by 14.6% during the first quarter. Blue Grotto Capital LLC now owns 2,614,842 shares of the software maker’s stock worth $38,359,000 after purchasing an additional 333,966 shares during the last quarter. Finally, Toronado Partners LLC grew its holdings in shares of Mitek Systems by 6.7% during the first quarter. Toronado Partners LLC now owns 2,606,759 shares of the software maker’s stock worth $38,241,000 after purchasing an additional 164,284 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.