ARI Network Services Inc. (NASDAQ:ARIS) shares rose 4.7% during mid-day trading on Thursday . The stock traded as high as $4.75 and last traded at $4.66, with a volume of 158,922 shares trading hands. The stock had previously closed at $4.45.

ARIS has been the subject of several recent analyst reports. Ascendiant Capital Markets boosted their target price on ARI Network Services from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, March 11th. Zacks Investment Research lowered ARI Network Services from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th.

The firm’s 50 day moving average is $4.09 and its 200-day moving average is $4.16. The company has a market capitalization of $82.87 million and a PE ratio of 53.33.

ARI Network Services (NASDAQ:ARIS) last posted its quarterly earnings data on Thursday, June 9th. The company reported $0.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.03. The company had revenue of $12 million for the quarter, compared to analysts’ expectations of $11.82 million. On average, analysts expect 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 the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $4.35, for a total transaction 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 approximately $736,441.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

An institutional investor recently raised its position in ARI Network Services stock. Cowen Prime Services LLC raised its stake in shares of ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,259,200 shares of the company’s stock after buying an additional 200,800 shares during the period. ARI Network Services accounts for approximately 2.5% of Cowen Prime Services LLC’s holdings, 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 filing with the SEC.

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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