Mitek Systems (NASDAQ:MITK) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Mitek Systems (NASDAQ:MITK) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

MITK has been the subject of several other research reports. Craig Hallum upped their price objective on Mitek Systems from $17.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, April 16th. HC Wainwright reiterated a buy rating and set a $19.00 price target on shares of Mitek Systems in a report on Tuesday, May 14th.

Mitek Systems Trading Down 2.4 %

Shares of MITK opened at $12.60 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.27 and a current ratio of 4.27. Mitek Systems has a 52-week low of $9.47 and a 52-week high of $16.24. The firm has a market cap of $589.57 million, a price-to-earnings ratio of -78.75 and a beta of 1.12. The business’s fifty day moving average is $13.29 and its 200-day moving average is $12.40.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Monday, May 13th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). The company had revenue of $46.97 million during the quarter, compared to the consensus estimate of $46.49 million. Mitek Systems had a negative net margin of 4.49% and a positive return on equity of 11.71%. Equities analysts anticipate that Mitek Systems will post 0.78 EPS for the current fiscal year.

Institutional Trading of Mitek Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MITK. Aristides Capital LLC boosted its stake in shares of Mitek Systems by 104.8% in the 1st quarter. Aristides Capital LLC now owns 47,324 shares of the software maker’s stock valued at $667,000 after purchasing an additional 24,216 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Mitek Systems by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,027 shares of the software maker’s stock worth $438,000 after acquiring an additional 1,759 shares during the period. BOKF NA raised its position in shares of Mitek Systems by 106.4% in the 1st quarter. BOKF NA now owns 27,203 shares of the software maker’s stock worth $391,000 after acquiring an additional 14,022 shares in the last quarter. LGT Group Foundation lifted its stake in shares of Mitek Systems by 5.0% in the 1st quarter. LGT Group Foundation now owns 433,741 shares of the software maker’s stock valued at $6,116,000 after purchasing an additional 20,460 shares during the period. Finally, Vanguard Group Inc. grew its stake in Mitek Systems by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock worth $49,599,000 after purchasing an additional 138,438 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.