Paradigm Capital Management Inc. NY raised its position in Mitek Systems, Inc. (NASDAQ:MITK) by 243.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,000 shares of the software maker’s stock after buying an additional 100,000 shares during the period. Paradigm Capital Management Inc. NY owned about 0.40% of Mitek Systems worth $1,255,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MetLife Investment Advisors LLC acquired a new stake in Mitek Systems in the 4th quarter worth about $135,000. Mackay Shields LLC acquired a new stake in Mitek Systems in the 2nd quarter worth about $208,000. Russell Investments Group Ltd. boosted its holdings in Mitek Systems by 35.7% in the 1st quarter. Russell Investments Group Ltd. now owns 25,741 shares of the software maker’s stock worth $190,000 after buying an additional 6,772 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in Mitek Systems in the 2nd quarter worth about $239,000. Finally, Global X Management Co. LLC boosted its holdings in Mitek Systems by 87.9% in the 1st quarter. Global X Management Co. LLC now owns 38,107 shares of the software maker’s stock worth $282,000 after buying an additional 17,830 shares during the last quarter. Institutional investors own 42.13% of the company’s stock.

Several research firms recently issued reports on MITK. ValuEngine cut Mitek Systems from a “buy” rating to a “hold” rating in a report on Friday, May 11th. National Securities reiterated a “buy” rating and issued a $17.50 price objective on shares of Mitek Systems in a report on Sunday, July 29th. BidaskClub upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 11th. Finally, TheStreet cut Mitek Systems from a “b” rating to a “c+” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $17.50.

In other news, Director Bruce Edward Hansen sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $8.73, for a total transaction of $349,200.00. Following the transaction, the director now directly owns 81,135 shares in the company, valued at approximately $708,308.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen Ritter sold 8,977 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $8.83, for a total value of $79,266.91. Following the transaction, the insider now owns 206,984 shares in the company, valued at $1,827,668.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,071 shares of company stock worth $550,241. Insiders own 7.50% of the company’s stock.

MITK stock opened at $8.65 on Friday. Mitek Systems, Inc. has a 12-month low of $7.00 and a 12-month high of $10.55. The stock has a market capitalization of $328.83 million, a P/E ratio of 41.19, a PEG ratio of 19.33 and a beta of 0.36.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, July 26th. The software maker reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $15.33 million. Mitek Systems had a return on equity of 4.74% and a net margin of 5.75%. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. equities research analysts anticipate that Mitek Systems, Inc. will post 0.03 earnings per share for the current year.

Mitek Systems Company Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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