CSM Advisors LLC Purchases Shares of 525,210 Mitek Systems, Inc. $MITK

CSM Advisors LLC acquired a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 525,210 shares of the software maker’s stock, valued at approximately $5,201,000. CSM Advisors LLC owned approximately 1.16% of Mitek Systems at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. purchased a new position in Mitek Systems during the first quarter worth $2,694,000. Nuveen LLC purchased a new stake in Mitek Systems during the 1st quarter worth about $959,000. Invesco Ltd. increased its position in Mitek Systems by 4.4% during the 1st quarter. Invesco Ltd. now owns 1,797,990 shares of the software maker’s stock worth $14,833,000 after purchasing an additional 75,891 shares in the last quarter. AQR Capital Management LLC raised its stake in Mitek Systems by 138.3% in the 1st quarter. AQR Capital Management LLC now owns 111,967 shares of the software maker’s stock valued at $924,000 after purchasing an additional 64,980 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Mitek Systems in the 1st quarter valued at about $505,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

MITK has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mitek Systems in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Mitek Systems Stock Performance

MITK opened at $9.13 on Monday. Mitek Systems, Inc. has a 1 year low of $6.93 and a 1 year high of $11.78. The company’s 50 day simple moving average is $9.64 and its 200 day simple moving average is $9.59. The stock has a market capitalization of $416.76 million, a PE ratio of 27.67 and a beta of 1.07.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Tuesday, June 3rd. The software maker reported $0.36 earnings per share for the quarter. The company had revenue of $51.93 million for the quarter. Mitek Systems had a net margin of 8.71% and a return on equity of 17.26%. As a group, sell-side analysts expect that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Mitek Systems Company Profile

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.