ARI Network Services Inc. (NASDAQ:ARIS) shares traded down 1.2% during mid-day trading on Monday . The stock traded as low as $4.74 and last traded at $4.75, with a volume of 116,194 shares. The stock had previously closed at $4.81.

Separately, Zacks Investment Research upgraded shares of ARI Network Services from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Thursday, June 16th.

The firm’s 50 day moving average price is $4.17 and its 200-day moving average price is $4.16. The company has a market capitalization of $82.18 million and a price-to-earnings ratio of 52.89.

ARI Network Services (NASDAQ:ARIS) last released its quarterly earnings data on Thursday, June 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business earned $12 million during the quarter, compared to analysts’ expectations of $11.82 million. Analysts anticipate that ARI Network Services Inc. will post $0.10 EPS for the current fiscal year.

In related news, CEO Roy W. Olivier sold 7,998 shares of ARI Network Services stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $4.35, for a total value of $34,791.30. Following the completion of the transaction, the chief executive officer now directly owns 169,297 shares in the company, valued at approximately $736,441.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

An institutional investor recently raised its position in ARI Network Services stock. Cowen Prime Services LLC raised its position in shares of ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,259,200 shares of the company’s stock after buying an additional 200,800 shares during the period. ARI Network Services comprises approximately 2.5% of Cowen Prime Services LLC’s investment portfolio, making the stock its 10th largest position. Cowen Prime Services LLC owned approximately 7.33% of ARI Network Services worth $5,666,000 as of its most recent SEC filing.

ARI Network Services, Inc creates software-as-a-service (SaaS) and data-as-a-service (DaaS) solutions that help equipment manufacturers, distributors and dealers in selected vertical markets Sell More Stuff!- online and in-store. The Company’s solutions include Web Platform Solutions, eCatalog Platform Solutions and Lead Management Product.

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