Mitek Systems (NASDAQ:MITK) Reaches New 12-Month High at $13.98

Mitek Systems, Inc. (NASDAQ:MITK) hit a new 52-week high on Wednesday . The stock traded as high as $13.98 and last traded at $13.97, with a volume of 607047 shares trading hands. The stock had previously closed at $13.23.

Analyst Ratings Changes

MITK has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Mitek Systems in a research report on Wednesday, March 20th. Craig Hallum initiated coverage on Mitek Systems in a research report on Thursday, December 14th. They set a “buy” rating and a $17.00 target price for the company. Finally, StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st.

Mitek Systems Price Performance

The business has a fifty day moving average price of $12.19 and a 200-day moving average price of $11.65. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $651.32 million, a PE ratio of 85.01 and a beta of 1.07.

Institutional Investors Weigh In On Mitek Systems

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Mitek Systems by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock valued at $44,065,000 after acquiring an additional 92,146 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Mitek Systems by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after acquiring an additional 963 shares during the period. Legal & General Group Plc boosted its holdings in Mitek Systems by 6.8% during the 4th quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock valued at $39,711,000 after acquiring an additional 193,443 shares during the period. Barclays PLC boosted its holdings in Mitek Systems by 317.3% during the 4th quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock valued at $912,000 after acquiring an additional 53,180 shares during the period. Finally, Newtyn Management LLC purchased a new stake in Mitek Systems during the 4th quarter valued at about $12,942,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.