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

Separately, Zacks Investment Research lowered ARI Network Services from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th.

The company has a market cap of $83.91 million and a price-to-earnings ratio of 54.00. The stock’s 50-day moving average price is $4.21 and its 200-day moving average price is $4.17.

ARI Network Services (NASDAQ:ARIS) last issued its earnings results on Thursday, June 9th. The company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The company earned $12 million during the quarter, compared to analysts’ expectations of $11.82 million. On average, equities research analysts forecast that ARI Network Services Inc. will post $0.10 EPS for the current year.

In related news, CEO Roy W. Olivier sold 7,998 shares of the stock in a transaction dated Monday, April 18th. The stock was 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 owns 169,297 shares of the company’s stock, valued at $736,441.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

A hedge fund recently raised its stake 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. The institutional investor owned 1,259,200 shares of the company’s stock after buying an additional 200,800 shares during the period. ARI Network Services makes up approximately 2.5% of Cowen Prime Services LLC’s investment portfolio, making the stock its 10th largest position. Cowen Prime Services LLC owned 7.33% of ARI Network Services worth $5,666,000 at the end of the most recent quarter.

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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