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NEW YORK ( TheStreet) -- Medidata Solutions (Nasdaq: MDSO) hit a new 52-week high Friday as it is currently trading at $27.05, above its previous 52-week high of $26.53 with 42,687 shares traded as of 9:40 a.m. ET. Average volume has been 191,000 shares over the past 30 days. Medidata has a market cap of $509.5 million and is part of the technology sector and computer software & services industry. Shares are up 17.8% year to date as of the close of trading on Thursday. Medidata Solutions, Inc. provides software-as-a-service based clinical development solutions for life science organizations worldwide. The company has a P/E ratio of 16, above the average computer software & services industry P/E ratio of 14.8 and below the S&P 500 P/E ratio of 17.7.