OxFORD Asset Management LLP raised its position in Mitek Systems, Inc. (NASDAQ:MITK) by 13.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,728 shares of the software maker’s stock after acquiring an additional 29,311 shares during the quarter. OxFORD Asset Management LLP owned 0.72% of Mitek Systems worth $2,014,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in MITK. Russell Investments Group Ltd. lifted its stake in Mitek Systems by 35.2% in the first quarter. Russell Investments Group Ltd. now owns 71,798 shares of the software maker’s stock valued at $477,000 after buying an additional 18,679 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Mitek Systems by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 99,118 shares of the software maker’s stock valued at $659,000 after purchasing an additional 3,857 shares in the last quarter. M&T Bank Corp raised its stake in shares of Mitek Systems by 100.0% during the first quarter. M&T Bank Corp now owns 40,000 shares of the software maker’s stock valued at $266,000 after purchasing an additional 20,000 shares in the last quarter. American International Group Inc. raised its stake in shares of Mitek Systems by 7.1% during the first quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock valued at $121,000 after purchasing an additional 1,197 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Mitek Systems by 43.9% during the first quarter. TIAA CREF Investment Management LLC now owns 122,135 shares of the software maker’s stock valued at $812,000 after purchasing an additional 37,271 shares in the last quarter. 42.68% of the stock is owned by institutional investors and hedge funds.
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Several brokerages have commented on MITK. Benchmark Co. lifted their price target on Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Northland Securities reaffirmed a “buy” rating and set a $11.00 target price on shares of Mitek Systems in a research note on Tuesday, July 25th. BidaskClub raised Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Roth Capital set a $12.00 price target on Mitek Systems and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Friday, July 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.67.
Mitek Systems, Inc. (MITK) opened at 9.60 on Tuesday. Mitek Systems, Inc. has a one year low of $5.26 and a one year high of $10.75. The stock’s 50 day moving average price is $9.74 and its 200-day moving average price is $8.98. The firm has a market capitalization of $322.42 million, a price-to-earnings ratio of 162.71 and a beta of 0.74.
Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. Mitek Systems had a return on equity of 10.45% and a net margin of 5.19%. The firm had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $11.48 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year. On average, equities research analysts expect that Mitek Systems, Inc. will post $0.28 EPS for the current fiscal year.
About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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