Lazari Capital Management Inc. Invests $117,000 in Mitek Systems, Inc. (NASDAQ:MITK)

Lazari Capital Management Inc. bought a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,504 shares of the software maker’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Invenomic Capital Management LP purchased a new stake in Mitek Systems during the 3rd quarter valued at about $4,068,000. Capstone Investment Advisors LLC purchased a new stake in Mitek Systems during the 3rd quarter valued at about $680,000. BNP Paribas Financial Markets grew its stake in Mitek Systems by 357.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after acquiring an additional 64,509 shares in the last quarter. Barclays PLC grew its stake in Mitek Systems by 335.6% during the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after acquiring an additional 60,256 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Mitek Systems during the 3rd quarter valued at about $506,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the sale, the insider now directly owns 164,342 shares in the company, valued at $1,490,581.94. This represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael E. Diamond sold 4,544 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total transaction of $41,304.96. Following the completion of the sale, the insider now directly owns 166,632 shares in the company, valued at approximately $1,514,684.88. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,699 shares of company stock worth $152,140 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Mitek Systems Stock Performance

Shares of MITK stock opened at $10.20 on Monday. The firm’s 50 day moving average price is $10.18 and its 200-day moving average price is $9.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.39 and a current ratio of 4.39. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24. The firm has a market cap of $461.35 million, a P/E ratio of 170.00 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16. The company had revenue of $43.22 million for the quarter, compared to analyst estimates of $41.30 million. Mitek Systems had a net margin of 1.90% and a return on equity of 16.64%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. As a group, equities research analysts predict that Mitek Systems, Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MITK shares. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 25th. HC Wainwright boosted their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.63.

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.