Perritt Capital Management Inc Purchases New Position in Mitek Systems, Inc. (NASDAQ:MITK)

Perritt Capital Management Inc bought a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the second quarter, HoldingsChannel.com reports. The fund bought 50,000 shares of the software maker’s stock, valued at approximately $559,000.

Several other large investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in Mitek Systems during the 2nd quarter valued at about $32,000. nVerses Capital LLC purchased a new stake in shares of Mitek Systems in the 2nd quarter worth approximately $57,000. Thompson Davis & CO. Inc. purchased a new stake in Mitek Systems during the first quarter worth $172,000. New York State Common Retirement Fund boosted its position in Mitek Systems by 60.3% during the fourth quarter. New York State Common Retirement Fund now owns 21,077 shares of the software maker’s stock valued at $275,000 after purchasing an additional 7,929 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in shares of Mitek Systems by 13.1% in the 2nd quarter. Wedbush Securities Inc. now owns 25,875 shares of the software maker’s stock valued at $289,000 after buying an additional 3,000 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Mitek Systems

In other news, SVP Christopher H. Briggs sold 24,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $11.10, for a total transaction of $266,400.00. Following the completion of the sale, the senior vice president now owns 68,673 shares of the company’s stock, valued at $762,270.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by insiders.

Mitek Systems Stock Down 0.6 %

MITK opened at $8.05 on Thursday. The company has a market cap of $376.67 million, a PE ratio of -50.31 and a beta of 1.07. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a 50-day moving average price of $10.48 and a 200 day moving average price of $11.84. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The firm had revenue of $45.00 million during the quarter, compared to analysts’ expectations of $47.99 million. During the same quarter last year, the business earned $0.16 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Mitek Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. Maxim Group reduced their price objective on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Craig Hallum reduced their price target on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, HC Wainwright reduced their target price on Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Mitek Systems has an average rating of “Moderate Buy” and a consensus price target of $12.13.

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.