Mitek Systems, Inc. $MITK Position Increased by Skylands Capital LLC

Skylands Capital LLC boosted its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 30.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 393,400 shares of the software maker’s stock after buying an additional 90,784 shares during the quarter. Skylands Capital LLC’s holdings in Mitek Systems were worth $5,311,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MITK. Tower Research Capital LLC TRC lifted its position in shares of Mitek Systems by 320.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock valued at $60,000 after acquiring an additional 4,586 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Mitek Systems by 305.2% in the 4th quarter. State of Alaska Department of Revenue now owns 8,075 shares of the software maker’s stock worth $85,000 after acquiring an additional 6,082 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Mitek Systems by 4,147.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,940 shares of the software maker’s stock worth $97,000 after acquiring an additional 9,706 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Mitek Systems during the fourth quarter worth $117,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Mitek Systems during the second quarter valued at $136,000. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Performance

Shares of Mitek Systems stock opened at $19.36 on Friday. The stock has a market cap of $874.48 million, a PE ratio of 55.33 and a beta of 1.02. The business has a fifty day simple moving average of $15.71 and a 200-day simple moving average of $13.35. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.20. Mitek Systems, Inc. has a 12 month low of $8.53 and a 12 month high of $19.67.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. The business had revenue of $54.84 million for the quarter, compared to the consensus estimate of $52.59 million. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%. On average, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Northland Securities set a $17.00 price target on Mitek Systems in a research report on Wednesday, April 15th. Wall Street Zen lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research cut shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Weiss Ratings raised shares of Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mitek Systems presently has an average rating of “Hold” and an average target price of $16.00.

Insider Buying and Selling

In other Mitek Systems news, COO Garrett Gafke sold 21,108 shares of Mitek Systems stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $14.19, for a total transaction of $299,522.52. Following the transaction, the chief operating officer owned 244,279 shares of the company’s stock, valued at $3,466,319.01. The trade was a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Mitek Systems Profile

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.