ARI Network Services Inc. (NASDAQ:ARIS)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.05 and last traded at $4.95, with a volume of 115,547 shares changing hands. The stock had previously closed at $4.91.

Separately, Zacks Investment Research upgraded ARI Network Services from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Thursday, June 16th.

The stock’s 50-day moving average is $4.23 and its 200 day moving average is $4.17. The stock has a market cap of $85.46 million and a PE ratio of 55.00.

ARI Network Services (NASDAQ:ARIS) last released its earnings results on Thursday, June 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.03. The firm had revenue of $12 million for the quarter, compared to the consensus estimate of $11.82 million. Equities research analysts anticipate that ARI Network Services Inc. will post $0.10 EPS for the current fiscal year.

In other news, CEO Roy W. Olivier sold 7,998 shares of the firm’s 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 in the company, valued at approximately $736,441.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

A hedge fund recently raised its stake in ARI Network Services stock. Cowen Prime Services LLC increased 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 firm 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 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 at the end of the most recent reporting period.

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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