PFG Investments LLC Makes New $430,000 Investment in Mitek Systems, Inc. (NASDAQ:MITK)

PFG Investments LLC bought a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 30,500 shares of the software maker’s stock, valued at approximately $430,000. PFG Investments LLC owned 0.07% of Mitek Systems as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its position in shares of Mitek Systems by 41.1% in the fourth quarter. Impax Asset Management Group plc now owns 720,349 shares of the software maker’s stock valued at $9,393,000 after acquiring an additional 210,000 shares during the period. North Star Investment Management Corp. boosted its position in shares of Mitek Systems by 4,261.7% in the fourth quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker’s stock valued at $1,521,000 after acquiring an additional 114,000 shares during the period. B. Riley Asset Management LLC boosted its position in shares of Mitek Systems by 28.9% in the third quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker’s stock valued at $7,707,000 after acquiring an additional 161,246 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Mitek Systems by 77.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker’s stock valued at $4,602,000 after acquiring an additional 186,746 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Mitek Systems by 427.5% in the third quarter. Assenagon Asset Management S.A. now owns 235,033 shares of the software maker’s stock valued at $2,520,000 after acquiring an additional 190,481 shares during the period. Institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

MITK has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Mitek Systems in a research report on Tuesday, April 16th. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, April 17th. Finally, Craig Hallum lifted their target price on shares of Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th.

Mitek Systems Price Performance

Shares of MITK stock traded down $0.02 during trading hours on Tuesday, hitting $12.63. 438,421 shares of the company’s stock were exchanged, compared to its average volume of 498,165. The company has a market capitalization of $590.96 million, a PE ratio of -181.55 and a beta of 1.09. Mitek Systems, Inc. has a 12-month low of $8.88 and a 12-month high of $16.24. The business’s 50 day simple moving average is $12.72 and its 200-day simple moving average is $12.06. The company has a current ratio of 4.70, a quick ratio of 4.70 and a debt-to-equity ratio of 0.64.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Monday, April 15th. The software maker reported $0.08 EPS for the quarter. The firm had revenue of $36.92 million for the quarter. Mitek Systems had a negative net margin of 1.97% and a positive return on equity of 13.13%. On average, equities research analysts anticipate that Mitek Systems, Inc. will post 0.78 earnings per share for the current year.

Mitek Systems 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.