41,447 Shares in Mitek Systems, Inc. (NASDAQ:MITK) Purchased by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp 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 Securities and Exchange Commission. The fund acquired 41,447 shares of the software maker’s stock, valued at approximately $463,000. Lombard Odier Asset Management USA Corp owned about 0.09% of Mitek Systems at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MITK. Vanguard Group Inc. raised its stake in shares of Mitek Systems by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock worth $49,599,000 after buying an additional 138,438 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Mitek Systems by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock worth $18,531,000 after acquiring an additional 128,282 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of Mitek Systems by 259.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock valued at $8,567,000 after acquiring an additional 553,379 shares during the last quarter. LSV Asset Management lifted its stake 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 valued at $8,260,000 after purchasing an additional 2,900 shares during the period. Finally, Tyro Capital Management LLC bought a new position in shares of Mitek Systems in the 4th quarter worth $9,240,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HC Wainwright dropped their price objective on Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 12th. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Maxim Group cut their target price on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Craig Hallum lowered their price objective on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Mitek Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Mitek Systems Price Performance

NASDAQ MITK opened at $8.75 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week high of $16.24. The business has a 50 day simple moving average of $10.12 and a 200 day simple moving average of $11.70. The stock has a market cap of $409.42 million, a price-to-earnings ratio of -54.69 and a beta of 1.07.

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