52,328 Shares of Mitek Systems, Inc. $MITK Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC bought a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 52,328 shares of the software maker’s stock, valued at approximately $892,000. Ellsworth Advisors LLC owned about 0.12% of Mitek Systems as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Mitek Systems by 47.0% in the 2nd quarter. Wellington Management Group LLP now owns 1,780,147 shares of the software maker’s stock valued at $35,834,000 after acquiring an additional 569,379 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Mitek Systems during the second quarter worth about $5,322,000. Sei Investments Co. purchased a new position in shares of Mitek Systems during the first quarter worth about $2,531,000. Pacer Advisors Inc. bought a new position in shares of Mitek Systems in the first quarter worth approximately $2,312,000. Finally, North Star Investment Management Corp. increased its position in shares of Mitek Systems by 2,930.4% in the first quarter. North Star Investment Management Corp. now owns 124,095 shares of the software maker’s stock worth $1,675,000 after purchasing an additional 120,000 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Stock Up 6.9%

Shares of NASDAQ:MITK opened at $16.88 on Friday. The stock has a market capitalization of $761.66 million, a P/E ratio of 35.92 and a beta of 0.94. The stock’s 50-day moving average price is $17.85 and its 200-day moving average price is $16.83. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.19. Mitek Systems, Inc. has a 12-month low of $8.53 and a 12-month high of $21.05.

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

Wall Street Analysts Forecast Growth

MITK has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Maxim Group set a $26.00 price target on shares of Mitek Systems in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Mitek Systems in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Mitek Systems has an average rating of “Hold” and a consensus target price of $19.33.

Mitek Systems Profile

Mitek Systems, Inc develops software for digital identity verification, fraud prevention and mobile banking. Its technology enables organizations to capture, authenticate and process information from checks, identity documents and other sources through smartphones and digital channels.

The company’s products include Mobile Deposit, which allows consumers to deposit checks remotely, as well as identity-verification and document-authentication solutions designed to support account opening, customer onboarding and ongoing access to digital services.