Globeflex Capital L P Takes $642,000 Position in Mitek Systems, Inc. $MITK

Globeflex Capital L P bought a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 31,902 shares of the software maker’s stock, valued at approximately $642,000.

Other large investors have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Mitek Systems by 320.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock valued at $60,000 after purchasing an additional 4,586 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Mitek Systems by 4,147.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,940 shares of the software maker’s stock worth $97,000 after purchasing an additional 9,706 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Mitek Systems in the 4th quarter valued at about $117,000. Bayesian Capital Management LP bought a new stake in Mitek Systems during the 2nd quarter valued at $136,000. Finally, SummitTX Capital L.P. purchased a new position in Mitek Systems during the first quarter worth about $140,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Mitek Systems Stock Performance

Shares of MITK opened at $18.02 on Wednesday. Mitek Systems, Inc. has a 1 year low of $8.53 and a 1 year high of $21.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.74 and a quick ratio of 2.74. The stock’s fifty day moving average price is $18.25 and its two-hundred day moving average price is $15.80. The firm has a market cap of $813.06 million, a PE ratio of 38.34 and a beta of 0.98.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. Mitek Systems had a return on equity of 19.16% and a net margin of 11.39%.The company had revenue of $54.04 million during the quarter, compared to the consensus estimate of $50.82 million. On average, equities research analysts forecast that Mitek Systems, Inc. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

MITK has been the subject of several research reports. Wall Street Zen upgraded shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Mitek Systems in a research note on Friday, August 7th. Maxim Group set a $26.00 target price on shares of Mitek Systems in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $19.33.

About Mitek Systems

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.