White Pine Capital LLC Has $989,000 Stake in Mitek Systems, Inc. (NASDAQ:MITK)

White Pine Capital LLC trimmed its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,810 shares of the software maker’s stock after selling 1,235 shares during the period. White Pine Capital LLC owned approximately 0.17% of Mitek Systems worth $989,000 at the end of the most recent quarter.

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

Mitek Systems Price Performance

NASDAQ MITK traded up $0.29 during mid-day trading on Friday, hitting $12.70. The company’s stock had a trading volume of 644,859 shares, compared to its average volume of 768,012. The company’s 50 day simple moving average is $12.71 and its 200 day simple moving average is $12.02. Mitek Systems, Inc. has a twelve month low of $8.88 and a twelve month high of $16.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.70 and a current ratio of 4.70.

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

Wall Street Analyst Weigh In

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

About Mitek Systems

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.