Dimensional Fund Advisors LP Acquires 29,997 Shares of Mitek Systems, Inc. $MITK

Dimensional Fund Advisors LP grew its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,685,657 shares of the software maker’s stock after purchasing an additional 29,997 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Mitek Systems were worth $22,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MITK. Mak Capital One LLC purchased a new position in shares of Mitek Systems in the 4th quarter worth about $6,690,000. Topline Capital Management LLC purchased a new stake in Mitek Systems during the second quarter worth about $5,235,000. Congruence Capital LLC purchased a new stake in Mitek Systems during the fourth quarter worth about $4,106,000. Tudor Investment Corp ET AL raised its position in Mitek Systems by 1,026.3% in the third quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker’s stock worth $2,255,000 after acquiring an additional 210,352 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Mitek Systems by 109.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 395,956 shares of the software maker’s stock worth $4,177,000 after acquiring an additional 206,593 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Trading Down 1.9%

Shares of Mitek Systems stock opened at $16.81 on Friday. The stock has a market capitalization of $759.12 million, a P/E ratio of 48.03 and a beta of 0.98. Mitek Systems, Inc. has a 52-week low of $8.53 and a 52-week high of $21.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.61 and a current ratio of 2.61. The stock’s 50-day simple moving average is $17.69 and its 200 day simple moving average is $15.03.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, August 6th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $54.04 million during the quarter, compared to analyst estimates of $50.82 million. Mitek Systems had a net margin of 8.74% and a return on equity of 16.74%. As a group, research analysts anticipate that Mitek Systems, Inc. will post 0.86 EPS for the current year.

Insider Activity at Mitek Systems

In related news, COO Garrett Gafke sold 21,108 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $14.19, for a total transaction of $299,522.52. Following the sale, the chief operating officer directly owned 244,279 shares in the company, valued at approximately $3,466,319.01. This represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

MITK has been the subject of a number of research reports. Zacks Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Weiss Ratings raised shares of Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Northland Securities set a $17.00 price objective on Mitek Systems in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.00.

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.