Victory Capital Management Inc. Takes $284,000 Position in Mitek Systems, Inc. (NASDAQ:MITK)

Victory Capital Management Inc. acquired a new stake in Mitek Systems, Inc. (NASDAQ:MITK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,472 shares of the software maker’s stock, valued at approximately $284,000. Victory Capital Management Inc. owned 0.06% of Mitek Systems at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Mitek Systems by 3.8% in the third quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock valued at $11,326,000 after acquiring an additional 47,418 shares during the period. Impax Asset Management Group plc bought a new position in shares of Mitek Systems in the fourth quarter valued at approximately $5,565,000. Invenomic Capital Management LP bought a new stake in Mitek Systems during the third quarter valued at approximately $4,068,000. JPMorgan Chase & Co. lifted its position in Mitek Systems by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock valued at $2,280,000 after purchasing an additional 35,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mitek Systems by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock valued at $1,134,000 after purchasing an additional 2,460 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Trading Up 1.2 %

MITK stock opened at $9.17 on Friday. The company has a market capitalization of $414.89 million, a PE ratio of 101.89 and a beta of 1.08. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24. The company’s 50 day moving average price is $9.74 and its two-hundred day moving average price is $9.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. As a group, analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mitek Systems news, CEO Edward H. West purchased 55,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the completion of the purchase, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MITK has been the subject of several research analyst reports. StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Maxim Group lifted their target price on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mitek Systems has a consensus rating of “Moderate Buy” and an average price target of $12.88.

About Mitek Systems

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.