DekaBank Deutsche Girozentrale Purchases New Stake in Mitek Systems, Inc. (NASDAQ:MITK)

DekaBank Deutsche Girozentrale acquired a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 46,438 shares of the software maker’s stock, valued at approximately $529,000. DekaBank Deutsche Girozentrale owned approximately 0.10% of Mitek Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MITK. Perritt Capital Management Inc acquired a new position in Mitek Systems in the second quarter worth about $559,000. Wedbush Securities Inc. grew its position in shares of Mitek Systems by 13.1% in the 2nd quarter. Wedbush Securities Inc. now owns 25,875 shares of the software maker’s stock worth $289,000 after acquiring an additional 3,000 shares in the last quarter. LSV Asset Management grew its position in shares of Mitek Systems by 0.4% in the 2nd quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock worth $8,260,000 after acquiring an additional 2,900 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Mitek Systems in the 2nd quarter valued at approximately $3,275,000. Finally, Rhumbline Advisers raised its position in shares of Mitek Systems by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 65,141 shares of the software maker’s stock valued at $728,000 after acquiring an additional 4,277 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

MITK has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. HC Wainwright lowered their price objective on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Craig Hallum cut their target price on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Maxim Group lowered their target price on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.13.

Mitek Systems Trading Down 2.6 %

Shares of NASDAQ:MITK opened at $8.75 on Friday. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $10.17 and its 200 day moving average price is $11.71. The company has a market cap of $409.42 million, a PE ratio of -54.69 and a beta of 1.07. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The business had revenue of $45.00 million for the quarter, compared to the consensus estimate of $47.99 million. During the same period last year, the firm posted $0.16 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Mitek Systems, Inc. will post 0.56 earnings per share for the current 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.