LGT Group Foundation Has $5.46 Million Stake in Mitek Systems, Inc. (NASDAQ:MITK)

LGT Group Foundation increased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,281 shares of the software maker’s stock after purchasing an additional 60,106 shares during the period. LGT Group Foundation owned approximately 0.91% of Mitek Systems worth $5,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its holdings in shares of Mitek Systems by 41.1% during the 4th 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 in the last quarter. B. Riley Asset Management LLC increased its holdings in Mitek Systems by 28.9% during the 3rd quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker’s stock worth $7,707,000 after purchasing an additional 161,246 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Mitek Systems by 77.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker’s stock worth $4,602,000 after purchasing an additional 186,746 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Mitek Systems by 18.8% in the third quarter. Tocqueville Asset Management L.P. now owns 396,300 shares of the software maker’s stock valued at $4,248,000 after acquiring an additional 62,700 shares in the last quarter. Finally, Wisconsin Capital Management LLC grew its holdings in shares of Mitek Systems by 0.6% in the third quarter. Wisconsin Capital Management LLC now owns 328,600 shares of the software maker’s stock valued at $3,523,000 after acquiring an additional 1,950 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a report on Tuesday, April 16th. StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday, April 17th. Finally, Craig Hallum raised their target price on Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th.

Mitek Systems Stock Up 2.8 %

NASDAQ MITK traded up $0.37 during mid-day trading on Friday, reaching $13.46. The stock had a trading volume of 413,540 shares, compared to its average volume of 497,138. Mitek Systems, Inc. has a 1 year low of $8.88 and a 1 year high of $16.24. The stock has a market cap of $629.79 million, a PE ratio of -186.97 and a beta of 1.12. The company has a fifty day moving average price of $12.78 and a 200 day moving average price of $12.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.70 and a quick ratio of 4.70.

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

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.