Mitek Systems, Inc. $MITK Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 47.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,780,147 shares of the software maker’s stock after buying an additional 569,379 shares during the period. Wellington Management Group LLP’s holdings in Mitek Systems were worth $35,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Mitek Systems in the fourth quarter valued at $1,124,000. Sei Investments Co. acquired a new stake in shares of Mitek Systems during the first quarter worth about $2,531,000. Pacer Advisors Inc. purchased a new stake in shares of Mitek Systems in the 1st quarter valued at about $2,312,000. Anson Funds Management LP purchased a new stake in shares of Mitek Systems in the 1st quarter valued at about $998,000. Finally, Independent Advisor Alliance boosted its position in shares of Mitek Systems by 4.5% in the 4th quarter. Independent Advisor Alliance now owns 1,225,119 shares of the software maker’s stock valued at $12,925,000 after purchasing an additional 53,016 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Mitek Systems in a research report on Friday, August 7th. Maxim Group set a $26.00 target price on shares of Mitek Systems in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $19.33.

Mitek Systems Price Performance

Shares of NASDAQ:MITK opened at $18.57 on Friday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.19. Mitek Systems, Inc. has a 52 week low of $8.53 and a 52 week high of $21.05. The company has a market cap of $837.88 million, a P/E ratio of 39.51 and a beta of 0.99. The company has a 50-day moving average price of $18.39 and a 200 day moving average price of $16.15.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $54.04 million for the quarter, compared to analyst estimates of $50.82 million. Mitek Systems had a return on equity of 19.16% and a net margin of 11.39%. Research analysts predict that Mitek Systems, Inc. will post 0.91 earnings per share for the current year.

Mitek Systems Company Profile

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.