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

PFG Investments LLC bought a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 30,500 shares of the software maker’s stock, valued at approximately $430,000.

A number of other institutional investors have also recently made changes to their positions in MITK. Covestor Ltd increased its stake in Mitek Systems by 32.3% during the third quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock worth $65,000 after acquiring an additional 1,492 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new stake in Mitek Systems during the third quarter worth approximately $136,000. Principal Financial Group Inc. increased its stake in Mitek Systems by 30.1% during the third quarter. Principal Financial Group Inc. now owns 17,136 shares of the software maker’s stock worth $184,000 after acquiring an additional 3,960 shares during the last quarter. New York State Common Retirement Fund increased its stake 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 worth $275,000 after acquiring an additional 7,929 shares during the last quarter. Finally, Aristides Capital LLC increased its stake in Mitek Systems by 46.0% during the fourth quarter. Aristides Capital LLC now owns 23,108 shares of the software maker’s stock worth $301,000 after acquiring an additional 7,278 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Trading Down 0.2 %

Shares of MITK traded down $0.02 during mid-day trading on Tuesday, reaching $12.63. 438,421 shares of the company’s stock traded hands, compared to its average volume of 498,165. The stock has a market cap of $590.96 million, a P/E ratio of -181.55 and a beta of 1.09. The stock’s 50-day moving average is $12.72 and its two-hundred day moving average is $12.06. Mitek Systems, Inc. has a 12 month low of $8.88 and a 12 month high of $16.24. 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 released its 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 positive return on equity of 13.13% and a negative net margin of 1.97%. Research analysts forecast that Mitek Systems, Inc. will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.