Mitek Systems (NASDAQ:MITK) Shares Up 4.3%

Mitek Systems, Inc. (NASDAQ:MITK)’s share price shot up 4.3% during trading on Tuesday . The company traded as high as $13.51 and last traded at $13.46. 158,870 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 381,130 shares. The stock had previously closed at $12.90.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MITK. Craig Hallum began coverage on Mitek Systems in a research report on Thursday, December 14th. They issued a “buy” rating and a $17.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Mitek Systems in a research report on Wednesday, March 20th. Finally, StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st.

Mitek Systems Price Performance

The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $659.74 million, a PE ratio of 87.44 and a beta of 1.07. The company has a 50-day moving average of $12.24 and a 200 day moving average of $11.66.

Hedge Funds Weigh In On Mitek Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Mitek Systems by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock worth $44,065,000 after buying an additional 92,146 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Mitek Systems by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock worth $383,000 after buying an additional 963 shares during the last quarter. Legal & General Group Plc boosted its stake in Mitek Systems by 6.8% during the fourth quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock worth $39,711,000 after buying an additional 193,443 shares during the last quarter. Barclays PLC boosted its stake in Mitek Systems by 317.3% during the fourth quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock worth $912,000 after buying an additional 53,180 shares during the last quarter. Finally, Newtyn Management LLC acquired a new position in shares of Mitek Systems in the 4th quarter valued at $12,942,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.