Infinitum Asset Management LLC Makes New $556,000 Investment in Mitek Systems, Inc. (NASDAQ:MITK)

Infinitum Asset Management LLC purchased a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the software maker’s stock, valued at approximately $556,000. Mitek Systems makes up approximately 0.3% of Infinitum Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Infinitum Asset Management LLC owned 0.11% of Mitek Systems as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Mitek Systems during the fourth quarter valued at $31,000. Canada Pension Plan Investment Board bought a new position in shares of Mitek Systems during the fourth quarter valued at $39,000. Ancora Advisors LLC bought a new position in Mitek Systems during the fourth quarter valued at approximately $67,000. Avior Wealth Management LLC lifted its position in Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock valued at $96,000 after purchasing an additional 1,700 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Mitek Systems during the fourth quarter valued at approximately $105,000. 83.64% of the stock is owned by institutional investors.

Mitek Systems Stock Down 2.6%

MITK stock opened at $9.45 on Monday. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a twelve month low of $6.93 and a twelve month high of $13.72. The business’s 50-day moving average price is $8.51 and its 200-day moving average price is $9.39. The stock has a market cap of $427.56 million, a P/E ratio of 105.00 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, May 8th. The software maker reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The company had revenue of $51.93 million for the quarter, compared to analysts’ expectations of $47.21 million. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

MITK has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. Maxim Group increased their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Wall Street Zen cut Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.88.

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.