Pacer Advisors Inc. bought a new stake in Mitek Systems, Inc. (NASDAQ:MITK – Free Report) during the first quarter, Holdings Channel.com reports. The fund bought 171,274 shares of the software maker’s stock, valued at approximately $2,312,000.
Several other institutional investors also recently added to or reduced their stakes in MITK. Mak Capital One LLC acquired a new position in shares of Mitek Systems during the fourth quarter worth approximately $6,690,000. Topline Capital Management LLC acquired a new stake in shares of Mitek Systems in the second quarter worth $5,235,000. Congruence Capital LLC acquired a new stake in shares of Mitek Systems in the fourth quarter worth $4,106,000. Tudor Investment Corp ET AL increased its position in Mitek Systems by 1,026.3% during the third quarter. Tudor Investment Corp ET AL now owns 230,848 shares of the software maker’s stock worth $2,255,000 after acquiring an additional 210,352 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Mitek Systems by 109.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 395,956 shares of the software maker’s stock worth $4,177,000 after acquiring an additional 206,593 shares during the period. 83.64% of the stock is owned by institutional investors.
Mitek Systems Price Performance
MITK opened at $18.49 on Friday. The stock has a market capitalization of $835.01 million, a P/E ratio of 39.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.61 and a quick ratio of 2.61. The company’s 50 day simple moving average is $17.72 and its 200-day simple moving average is $15.06. Mitek Systems, Inc. has a one year low of $8.53 and a one year high of $21.05.
Insider Activity
In related news, COO Garrett Gafke sold 21,108 shares of Mitek Systems stock in a transaction on Friday, May 15th. The stock was sold at an average price of $14.19, for a total transaction of $299,522.52. Following the completion of the sale, the chief operating officer directly owned 244,279 shares of the company’s stock, valued at $3,466,319.01. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Maxim Group set a $26.00 target price on shares of Mitek Systems in a research note on Friday. Weiss Ratings raised Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Zacks Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Northland Securities set a $17.00 price target on shares of Mitek Systems in a report on Wednesday, April 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.33.
Read Our Latest Stock Analysis on MITK
Key Headlines Impacting Mitek Systems
Here are the key news stories impacting Mitek Systems this week:
- Positive Sentiment: Mitek reported fiscal Q3 EPS of $0.34, up from $0.22 a year earlier and ahead of analyst estimates ranging from $0.26 to $0.28. Revenue reached $54.04 million, exceeding the approximately $50.8 million consensus forecast. Mitek Systems Q3 Earnings and Revenues Beat Estimates
- Positive Sentiment: Management projected fiscal 2026 revenue of $195 million to $200 million, above the $194.3 million analyst consensus. The outlook suggests continued demand for Mitek’s digital identity and fraud-prevention products. Mitek Systems Fiscal Q3 Earnings Snapshot
- Positive Sentiment: The earnings beat was supported by solid profitability, including a reported 8.74% net margin and 16.74% return on equity. The results and outlook provide a fundamental explanation for the stock’s increased trading activity. Mitek Systems Q3 2026 Earnings Call Transcript
- Neutral Sentiment: Fourth-quarter revenue guidance of $42 million to $47 million brackets the $44.4 million consensus estimate, indicating an outlook broadly in line with expectations. The company did not provide a specific EPS figure in the supplied guidance update. Compared to Estimates Mitek Systems Q3 Earnings Key Metrics
About Mitek Systems
Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.
The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.
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