Mitek Systems, Inc. $MITK Shares Bought by Skylands Capital LLC

Skylands Capital LLC grew its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 30.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,400 shares of the software maker’s stock after buying an additional 90,784 shares during the period. Skylands Capital LLC owned 0.87% of Mitek Systems worth $5,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MITK. Topline Capital Management LLC increased its position in Mitek Systems by 99.6% in the 3rd quarter. Topline Capital Management LLC now owns 1,055,608 shares of the software maker’s stock valued at $10,313,000 after acquiring an additional 526,842 shares during the period. Tudor Investment Corp ET AL boosted its position in Mitek Systems by 1,026.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker’s stock worth $2,255,000 after acquiring an additional 210,352 shares during the period. Teton Advisors LLC acquired a new position in Mitek Systems during the 3rd quarter worth $918,000. Segall Bryant & Hamill LLC bought a new position in shares of Mitek Systems in the third quarter worth $779,000. Finally, International Assets Investment Management LLC bought a new position in shares of Mitek Systems in the fourth quarter worth $1,124,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MITK shares. Weiss Ratings upgraded shares of Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Northland Securities set a $17.00 target price on shares of Mitek Systems in a research note on Wednesday, April 15th. Finally, Zacks Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.00.

Mitek Systems Stock Up 9.7%

Shares of MITK stock opened at $19.36 on Friday. Mitek Systems, Inc. has a 1 year low of $8.53 and a 1 year high of $19.67. The stock has a market cap of $874.48 million, a PE ratio of 55.33 and a beta of 1.02. The business’s fifty day moving average is $15.71 and its 200-day moving average is $13.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.61 and a current ratio of 2.61.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.12. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%.The business had revenue of $54.84 million during the quarter, compared to analyst estimates of $52.59 million. Equities analysts expect that Mitek Systems, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mitek Systems news, COO Garrett Gafke sold 21,108 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the sale, the chief operating officer directly owned 244,279 shares in the company, valued at approximately $3,466,319.01. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.

About Mitek Systems

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.