Cannell & Co. Has $3.80 Million Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Cannell & Co. lessened its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,050 shares of the software maker’s stock after selling 52,567 shares during the period. Cannell & Co. owned about 0.64% of Mitek Systems worth $3,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Impax Asset Management Group plc lifted its position in shares of Mitek Systems by 41.1% in the fourth quarter. Impax Asset Management Group plc now owns 720,349 shares of the software maker’s stock worth $9,393,000 after purchasing an additional 210,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Mitek Systems by 427.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 235,033 shares of the software maker’s stock worth $2,520,000 after buying an additional 190,481 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Mitek Systems by 77.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker’s stock worth $4,602,000 after buying an additional 186,746 shares during the last quarter. B. Riley Asset Management LLC grew its holdings in shares of Mitek Systems by 28.9% in the 3rd quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker’s stock valued at $7,707,000 after acquiring an additional 161,246 shares in the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Mitek Systems by 4,261.7% in the fourth quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker’s stock valued at $1,521,000 after acquiring an additional 114,000 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analysts Set New Price Targets

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

Mitek Systems Price Performance

Shares of NASDAQ MITK opened at $12.48 on Thursday. The company has a quick ratio of 4.70, a current ratio of 4.70 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average price is $12.75 and its two-hundred day moving average price is $12.08. The company has a market cap of $583.94 million, a PE ratio of -178.26 and a beta of 1.12. Mitek Systems, Inc. has a twelve month low of $8.88 and a twelve month high of $16.24.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Monday, April 15th. The software maker reported $0.08 earnings per share for the quarter. Mitek Systems had a positive return on equity of 13.13% and a negative net margin of 1.97%. The business had revenue of $36.92 million for the quarter. On average, analysts predict that Mitek Systems, Inc. will post 0.78 EPS for the current year.

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.