Mitek Systems, Inc. (MITK) Stake Boosted by Renaissance Group LLC
Renaissance Group LLC raised its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,110 shares of the software maker’s stock after buying an additional 620 shares during the period. Renaissance Group LLC owned approximately 0.16% of Mitek Systems worth $455,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MITK. Vanguard Group Inc. boosted its stake in shares of Mitek Systems by 8.2% in the first quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock valued at $8,705,000 after buying an additional 99,489 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Mitek Systems by 1.4% in the first quarter. Wells Fargo & Company MN now owns 1,082,949 shares of the software maker’s stock valued at $7,202,000 after buying an additional 15,188 shares during the period. Thomson Horstmann & Bryant Inc. boosted its stake in shares of Mitek Systems by 11.4% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 649,330 shares of the software maker’s stock valued at $5,454,000 after buying an additional 66,688 shares during the period. S Squared Technology LLC boosted its stake in shares of Mitek Systems by 7.5% in the first quarter. S Squared Technology LLC now owns 418,918 shares of the software maker’s stock valued at $2,786,000 after buying an additional 29,200 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Mitek Systems by 3,097.1% in the first quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock valued at $2,431,000 after buying an additional 354,150 shares during the period. Institutional investors and hedge funds own 42.70% of the company’s stock.
Shares of Mitek Systems, Inc. (MITK) opened at 9.95 on Wednesday. The company’s 50-day moving average price is $9.88 and its 200 day moving average price is $8.02. Mitek Systems, Inc. has a 12-month low of $5.26 and a 12-month high of $10.75. The stock has a market cap of $334.17 million, a price-to-earnings ratio of 168.64 and a beta of 0.68.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $11.48 million. During the same quarter last year, the firm earned $0.07 earnings per share. The business’s revenue was up 29.7% on a year-over-year basis. On average, equities analysts predict that Mitek Systems, Inc. will post $0.28 earnings per share for the current year.
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Several analysts have recently issued reports on MITK shares. Benchmark Co. upped their price objective on Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Roth Capital set a $10.00 price objective on Mitek Systems and gave the stock a “buy” rating in a report on Saturday, June 10th. BidaskClub raised Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Northland Securities restated a “buy” rating and set a $11.00 price target on shares of Mitek Systems in a report on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Mitek Systems presently has a consensus rating of “Buy” and an average target price of $10.67.
In other news, CFO Russell C. Clark sold 39,400 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $8.25, for a total transaction of $325,050.00. Following the sale, the chief financial officer now owns 88,818 shares in the company, valued at $732,748.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.52% of the stock is owned by company insiders.
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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