Shares of ARI Network Services Inc. (NASDAQ:ARIS) hit a new 52-week high during trading on Friday . The company traded as high as $4.90 and last traded at $4.77, with a volume of 58,557 shares traded. The stock had previously closed at $4.80.

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 stock has a 50-day moving average price of $4.15 and a 200 day moving average price of $4.17. The company has a market cap of $83.04 million and a PE ratio of 53.44.

ARI Network Services (NASDAQ:ARIS) last released its earnings results on Thursday, June 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $12 million for the quarter, compared to the consensus estimate of $11.82 million. On average, equities analysts expect that ARI Network Services Inc. will post $0.10 EPS for the current year.

In other news, CEO Roy W. Olivier sold 7,998 shares of the company’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $4.35, for a total transaction of $34,791.30. Following the completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink.

A hedge fund recently raised its stake in ARI Network Services stock. Cowen Prime Services LLC increased 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 firm 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 about 2.5% of Cowen Prime Services LLC’s holdings, making the stock its 10th largest position. Cowen Prime Services LLC owned about 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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