Mitek Systems (NASDAQ:MITK) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Mitek Systems (NASDAQ:MITK) in a report published on Tuesday, Benzinga reports. HC Wainwright currently has a $19.00 price target on the software maker’s stock.

Separately, StockNews.com lowered Mitek Systems from a buy rating to a hold rating in a research note on Thursday, March 21st.

Mitek Systems Trading Down 1.6 %

MITK stock opened at $11.98 on Tuesday. Mitek Systems has a twelve month low of $8.77 and a twelve month high of $16.24. 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 firm’s fifty day simple moving average is $12.69 and its two-hundred day simple moving average is $11.95.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. The company had revenue of $37.66 million for the quarter. Mitek Systems had a net margin of 4.25% and a return on equity of 17.83%. Analysts predict that Mitek Systems will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Mitek Systems

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Mitek Systems by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 20,882 shares of the software maker’s stock worth $272,000 after purchasing an additional 918 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $383,000 after buying an additional 963 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Mitek Systems by 0.9% during the fourth quarter. Nuveen Asset Management LLC now owns 116,242 shares of the software maker’s stock valued at $1,516,000 after buying an additional 1,051 shares during the period. Raymond James & Associates raised its holdings in shares of Mitek Systems by 1.8% in the fourth quarter. Raymond James & Associates now owns 73,243 shares of the software maker’s stock valued at $955,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Mitek Systems by 88.5% in the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock worth $29,000 after acquiring an additional 1,475 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.