Intellinetics (OTCMKTS:INLX) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Intellinetics (OTCMKTS:INLX) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Intellinetics Stock Performance

Shares of INLX stock traded up $0.11 during trading on Thursday, reaching $9.08. 326 shares of the company’s stock traded hands, compared to its average volume of 5,304. The firm’s 50-day moving average is $10.93 and its 200 day moving average is $11.70. The company has a market capitalization of $40.67 million, a P/E ratio of 60.54 and a beta of 0.18. Intellinetics has a 1 year low of $8.74 and a 1 year high of $16.50. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Insider Activity

In related news, major shareholder Robert Taglich sold 35,732 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $11.00, for a total transaction of $393,052.00. Following the sale, the insider directly owned 458,642 shares in the company, valued at approximately $5,045,062. The trade was a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.59% of the company’s stock.

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.