Stonebridge Capital Advisors LLC Holds Stake in Mitek Systems, Inc. (MITK)
Stonebridge Capital Advisors LLC held its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,500 shares of the software maker’s stock at the close of the second quarter. Stonebridge Capital Advisors LLC’s holdings in Mitek Systems were worth $122,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MITK. Archon Capital Management LLC raised its holdings in Mitek Systems by 70.4% in the second quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock valued at $7,215,000 after buying an additional 354,952 shares during the period. Goldman Sachs Group Inc. raised its holdings in Mitek Systems by 3,097.1% in the first quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock valued at $2,431,000 after buying an additional 354,150 shares during the period. Unterberg Capital LLC raised its holdings in Mitek Systems by 195.1% in the second quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock valued at $3,108,000 after buying an additional 244,600 shares during the period. Algert Global LLC purchased a new position in Mitek Systems in the second quarter valued at approximately $1,356,000. Finally, Essex Investment Management Co. LLC raised its holdings in Mitek Systems by 73.6% in the second quarter. Essex Investment Management Co. LLC now owns 311,799 shares of the software maker’s stock valued at $2,619,000 after buying an additional 132,238 shares during the period. Hedge funds and other institutional investors own 42.68% of the company’s stock.
Mitek Systems, Inc. (MITK) remained flat at $9.60 during mid-day trading on Wednesday. 34,034 shares of the company traded hands. The firm has a market cap of $322.43 million, a PE ratio of 160.00 and a beta of 0.73. Mitek Systems, Inc. has a 12 month low of $5.26 and a 12 month high of $10.75. The firm has a 50 day moving average of $9.80 and a 200 day moving average of $8.90.
Mitek Systems (NASDAQ:MITK) last posted its earnings results on Thursday, July 27th. The software maker reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. Mitek Systems had a return on equity of 10.45% and a net margin of 5.19%. The firm had revenue of $11.80 million during the quarter, compared to analyst estimates of $11.48 million. During the same period in the previous year, the company earned $0.07 EPS. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. Equities research analysts expect that Mitek Systems, Inc. will post $0.28 earnings per share for the current fiscal year.
MITK has been the topic of several research reports. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Roth Capital set a $12.00 price target on shares of Mitek Systems and gave the company a “buy” rating in a report on Friday, July 28th. Northland Securities restated a “buy” rating and issued a $11.00 price target on shares of Mitek Systems in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Benchmark Co. raised their price target on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $10.67.
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About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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