Zacks Research Downgrades Intellinetics (OTCMKTS:INLX) to Hold

Intellinetics (OTCMKTS:INLX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Intellinetics Stock Performance

Intellinetics stock traded up $0.11 during mid-day trading on Thursday, reaching $9.08. The company had a trading volume of 326 shares, compared to its average volume of 5,304. The company has a 50 day moving average of $10.93 and a 200-day moving average of $11.70. Intellinetics has a 52 week low of $8.74 and a 52 week high of $16.50. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The firm has a market cap of $40.67 million, a price-to-earnings ratio of 60.54 and a beta of 0.18.

Insider Transactions at Intellinetics

In other Intellinetics news, major shareholder Robert Taglich sold 35,732 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $11.00, for a total value of $393,052.00. Following the sale, the insider owned 458,642 shares of the company’s stock, valued at $5,045,062. The trade was a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.59% of the stock is owned by company insiders.

Intellinetics Company Profile

Intellinetics, Inc designs, develops, tests, markets, and licenses document services and software solutions in the United States. The company operates in two segments, Document Management and Document Conversion. Its software platform allows its customers to capture and manage documents across operations, such as scanned hard-copy documents and digital documents, including Microsoft Office 365, digital images, audio, videos, and emails.