Fifth Third Wealth Advisors LLC Acquires Shares of 58,356 Mitek Systems, Inc. (NASDAQ:MITK)

Fifth Third Wealth Advisors LLC bought a new position in Mitek Systems, Inc. (NASDAQ:MITK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 58,356 shares of the software maker’s stock, valued at approximately $506,000. Fifth Third Wealth Advisors LLC owned approximately 0.13% of Mitek Systems as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Kovack Advisors Inc. bought a new stake in Mitek Systems in the third quarter worth approximately $372,000. Olympiad Research LP bought a new stake in Mitek Systems in the third quarter worth approximately $247,000. nVerses Capital LLC grew its position in Mitek Systems by 25.5% in the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,300 shares in the last quarter. Creative Planning bought a new stake in Mitek Systems in the third quarter worth approximately $152,000. Finally, SG Americas Securities LLC bought a new stake in Mitek Systems in the third quarter worth approximately $148,000. 83.64% of the stock is owned by institutional investors.

Mitek Systems Trading Up 1.0 %

Shares of Mitek Systems stock opened at $8.78 on Thursday. The stock has a market capitalization of $405.67 million, a P/E ratio of -58.53 and a beta of 1.07. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $8.80 and a 200 day simple moving average of $10.44. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24.

Analyst Upgrades and Downgrades

MITK has been the subject of several recent analyst reports. HC Wainwright decreased their price objective on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. Craig Hallum decreased their price objective on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Maxim Group decreased their price objective on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mitek Systems has a consensus rating of “Moderate Buy” and an average price target of $12.13.

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.