Arizona State Retirement System cut its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,604 shares of the software maker’s stock after selling 558 shares during the quarter. Arizona State Retirement System’s holdings in Mitek Systems were worth $223,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of Mitek Systems by 18.2% during the 1st quarter. Lazard Asset Management LLC now owns 5,053 shares of the software maker’s stock worth $73,000 after acquiring an additional 777 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Mitek Systems during the 1st quarter worth $75,000. Schroder Investment Management Group boosted its stake in shares of Mitek Systems by 7.2% during the 1st quarter. Schroder Investment Management Group now owns 10,232 shares of the software maker’s stock worth $149,000 after acquiring an additional 688 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Mitek Systems during the 1st quarter worth $155,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Mitek Systems during the 1st quarter worth $175,000. 67.93% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on MITK shares. HC Wainwright started coverage on Mitek Systems in a research note on Thursday, August 12th. They set a “buy” rating and a $27.00 price objective for the company. Maxim Group raised their price objective on Mitek Systems from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Northland Securities initiated coverage on Mitek Systems in a research report on Wednesday, July 21st. They issued a “buy” rating and a $21.50 target price for the company. Zacks Investment Research cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Finally, TheStreet raised Mitek Systems from a “c+” rating to a “b” rating in a research report on Friday, July 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $24.10.
Shares of Mitek Systems stock opened at $19.87 on Wednesday. The stock has a market cap of $874.76 million, a PE ratio of 76.43 and a beta of 0.27. The business has a fifty day simple moving average of $20.73 and a 200-day simple moving average of $17.98. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 0.92. Mitek Systems, Inc. has a 12 month low of $11.27 and a 12 month high of $23.29.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, July 29th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.13. Mitek Systems had a return on equity of 17.05% and a net margin of 9.53%. Analysts expect that Mitek Systems, Inc. will post 0.43 EPS for the current fiscal year.
Mitek Systems Profile
Mitek Systems, Inc engages in the innovation of mobile capture and digital identity verification solutions. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, Mobile Docs, A2iA CheckReader, A2iA XE, A2iA DocumentReader, A2iA TextReader, and ICAR ID_CLOUD. The company was founded in 1986 and is headquartered in San Diego, CA.
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