Tocqueville Asset Management L.P. Acquires 80,000 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Tocqueville Asset Management L.P. raised its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 45.4% in the 4th quarter, HoldingsChannel reports. The fund owned 256,300 shares of the software maker’s stock after buying an additional 80,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Mitek Systems were worth $2,853,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC bought a new stake in shares of Mitek Systems during the third quarter valued at approximately $60,000. Y Intercept Hong Kong Ltd bought a new position in Mitek Systems in the 4th quarter valued at $114,000. Intech Investment Management LLC acquired a new stake in shares of Mitek Systems in the 3rd quarter valued at $117,000. Lazari Capital Management Inc. bought a new stake in shares of Mitek Systems during the fourth quarter worth $117,000. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Mitek Systems by 16.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock valued at $230,000 after acquiring an additional 2,865 shares during the period. 83.64% of the stock is owned by institutional investors.

Insider Activity at Mitek Systems

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the completion of the purchase, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

Mitek Systems Price Performance

Mitek Systems stock opened at $9.03 on Wednesday. The firm has a market capitalization of $408.55 million, a P/E ratio of 100.33 and a beta of 1.08. The business has a 50-day moving average of $9.83 and a 200-day moving average of $9.46. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 earnings per share (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, equities analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

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