LSV Asset Management Has $1.27 Million Holdings in Mitek Systems, Inc. $MITK

LSV Asset Management grew its position in Mitek Systems, Inc. (NASDAQ:MITK) by 45.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 128,291 shares of the software maker’s stock after acquiring an additional 40,000 shares during the period. LSV Asset Management owned 0.28% of Mitek Systems worth $1,270,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MITK. Vanguard Group Inc. raised its position in Mitek Systems by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,564,891 shares of the software maker’s stock valued at $29,410,000 after purchasing an additional 10,073 shares during the last quarter. Invesco Ltd. increased its stake in shares of Mitek Systems by 4.4% in the first quarter. Invesco Ltd. now owns 1,797,990 shares of the software maker’s stock valued at $14,833,000 after buying an additional 75,891 shares during the period. Geode Capital Management LLC raised its holdings in Mitek Systems by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,093,600 shares of the software maker’s stock valued at $10,829,000 after buying an additional 21,087 shares during the last quarter. CSM Advisors LLC acquired a new stake in Mitek Systems during the 2nd quarter worth approximately $5,201,000. Finally, Pacer Advisors Inc. acquired a new stake in Mitek Systems during the 1st quarter worth approximately $2,694,000. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Mitek Systems Price Performance

Shares of Mitek Systems stock opened at $8.95 on Friday. The stock’s 50-day moving average is $9.44 and its 200 day moving average is $9.62. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $11.78. The firm has a market cap of $408.54 million, a price-to-earnings ratio of 27.12 and a beta of 1.07.

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

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.