ARI Network Services Inc. (NASDAQ:ARIS) hit a new 52-week high during 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 raised shares of ARI Network Services from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Thursday, June 16th.

The company has a market capitalization of $88.05 million and a P/E ratio of 56.67. The stock has a 50 day moving average of $4.30 and a 200 day moving average of $4.18.

ARI Network Services (NASDAQ:ARIS) last posted its quarterly 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 earned $12 million during the quarter, compared to analyst estimates of $11.82 million. On average, analysts expect 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 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 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 available at the SEC website.

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 13F filing 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 accounts for about 2.5% of Cowen Prime Services LLC’s holdings, 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.