Olympiad Research LP Buys Shares of 28,433 Mitek Systems, Inc. (NASDAQ:MITK)

Olympiad Research LP purchased a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,433 shares of the software maker’s stock, valued at approximately $247,000. Olympiad Research LP owned 0.06% of Mitek Systems as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MITK. LSV Asset Management increased its stake in Mitek Systems by 852.1% during the first quarter. LSV Asset Management now owns 735,899 shares of the software maker’s stock worth $10,376,000 after acquiring an additional 658,603 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Mitek Systems by 259.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after purchasing an additional 553,379 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Mitek Systems during the 2nd quarter worth about $3,275,000. EVR Research LP acquired a new position in Mitek Systems in the second quarter valued at about $2,957,000. Finally, Kopp LeRoy C acquired a new position in Mitek Systems in the first quarter valued at about $3,340,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Up 1.2 %

Mitek Systems stock opened at $9.41 on Friday. The firm has a market capitalization of $434.74 million, a P/E ratio of -62.73 and a beta of 1.07. The stock’s fifty day simple moving average is $8.72 and its 200-day simple moving average is $10.66. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The company had revenue of $45.00 million during the quarter, compared to analyst estimates of $47.99 million. During the same period in the prior year, the business earned $0.16 EPS. Mitek Systems’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Mitek Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

MITK has been the topic of a number of research analyst reports. HC Wainwright reduced their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Craig Hallum decreased their price target on Mitek Systems from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and dropped their price objective for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, Maxim Group lowered their target price on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

Mitek Systems Company Profile

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.