Monarch Partners Asset Management LLC lifted its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 68.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,920 shares of the software maker’s stock after purchasing an additional 40,845 shares during the quarter. Monarch Partners Asset Management LLC owned about 0.29% of Mitek Systems worth $898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of Mitek Systems by 35.7% during the first quarter. Russell Investments Group Ltd. now owns 25,741 shares of the software maker’s stock valued at $190,000 after purchasing an additional 6,772 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Mitek Systems by 4.5% in the first quarter. Wedge Capital Management L L P NC now owns 220,938 shares of the software maker’s stock worth $1,635,000 after acquiring an additional 9,538 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Mitek Systems in the fourth quarter worth about $135,000. Unterberg Capital LLC raised its position in Mitek Systems by 2.5% in the second quarter. Unterberg Capital LLC now owns 635,000 shares of the software maker’s stock worth $5,652,000 after acquiring an additional 15,622 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Mitek Systems by 87.9% in the first quarter. Global X Management Co. LLC now owns 38,107 shares of the software maker’s stock worth $282,000 after acquiring an additional 17,830 shares in the last quarter. Institutional investors and hedge funds own 42.13% of the company’s stock.

Shares of Mitek Systems stock opened at $8.55 on Friday. Mitek Systems, Inc. has a 52 week low of $7.00 and a 52 week high of $10.55. The stock has a market capitalization of $328.83 million, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 19.33 and a beta of 0.36.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. Mitek Systems had a net margin of 5.75% and a return on equity of 4.74%. The firm had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $15.33 million. During the same period in the previous year, the business earned $0.08 earnings per share. Mitek Systems’s revenue for the quarter was up 36.4% compared to the same quarter last year. equities analysts anticipate that Mitek Systems, Inc. will post 0.03 EPS for the current year.

Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 23rd. ValuEngine upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Sunday, June 17th. TheStreet cut shares of Mitek Systems from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Finally, National Securities reiterated a “buy” rating and issued a $17.50 price target on shares of Mitek Systems in a research report on Sunday, July 29th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.50.

In other Mitek Systems news, insider Stephen Ritter sold 8,977 shares of the business’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $8.83, for a total transaction of $79,266.91. Following the sale, the insider now owns 206,984 shares in the company, valued at approximately $1,827,668.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce Edward Hansen sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $8.73, for a total value of $349,200.00. Following the sale, the director now owns 81,135 shares in the company, valued at approximately $708,308.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,071 shares of company stock worth $550,241. 7.50% of the stock is owned by company insiders.

Mitek Systems Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.

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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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