Impax Asset Management Group plc Invests $5.57 Million in Mitek Systems, Inc. (NASDAQ:MITK)

Impax Asset Management Group plc bought a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 500,000 shares of the software maker’s stock, valued at approximately $5,565,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its position in shares of Mitek Systems by 335.6% during the third quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock worth $679,000 after acquiring an additional 60,256 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Mitek Systems by 357.0% during the third quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock worth $716,000 after acquiring an additional 64,509 shares during the last quarter. State Street Corp grew its position in shares of Mitek Systems by 3.8% during the third quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock worth $11,326,000 after acquiring an additional 47,418 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Mitek Systems by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock worth $2,280,000 after acquiring an additional 35,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Mitek Systems by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock worth $1,134,000 after acquiring an additional 2,460 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, insider Michael E. Diamond sold 4,544 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the completion of the sale, the insider now owns 166,632 shares of the company’s stock, valued at approximately $1,514,684.88. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward H. West bought 55,000 shares of Mitek Systems stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $9.21 per share, with a total value of $506,550.00. Following the acquisition, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is owned by company insiders.

Mitek Systems Stock Performance

NASDAQ:MITK opened at $9.91 on Tuesday. The firm’s fifty day moving average price is $10.45 and its 200 day moving average price is $9.44. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The firm has a market cap of $448.37 million, a price-to-earnings ratio of 110.11 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. On average, sell-side analysts expect that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MITK. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, Maxim Group lifted their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.88.

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.