nVerses Capital LLC Increases Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

nVerses Capital LLC boosted its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 25.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,400 shares of the software maker’s stock after purchasing an additional 1,300 shares during the period. nVerses Capital LLC’s holdings in Mitek Systems were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Mitek Systems in the 2nd quarter valued at $32,000. Thompson Davis & CO. Inc. purchased a new stake in Mitek Systems in the 1st quarter valued at about $172,000. Squarepoint Ops LLC acquired a new position in Mitek Systems in the second quarter valued at about $138,000. SG Americas Securities LLC purchased a new position in Mitek Systems during the third quarter worth about $148,000. Finally, Creative Planning acquired a new stake in shares of Mitek Systems during the third quarter valued at about $152,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mitek Systems Trading Down 0.4 %

NASDAQ:MITK opened at $9.01 on Tuesday. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24. The firm has a market cap of $421.59 million, a PE ratio of -56.38 and a beta of 1.07. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $8.76 and a 200 day moving average price of $11.13.

Mitek Systems (NASDAQ:MITK) last announced 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). Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The company had revenue of $45.00 million during the quarter, compared to analysts’ expectations of $47.99 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Mitek Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Mitek Systems 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.