Congress Asset Management Co. Has $4 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Congress Asset Management Co. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,507 shares of the financial services provider’s stock after selling 159 shares during the quarter. Congress Asset Management Co.’s holdings in Equinix were worth $4,001,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EQIX. Vanguard Group Inc. raised its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. Principal Financial Group Inc. lifted its stake in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after acquiring an additional 47,795 shares during the period. Dimensional Fund Advisors LP grew its stake in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after acquiring an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Equinix by 13.5% in the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after purchasing an additional 112,194 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,906 shares of company stock valued at $9,071,764. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research reports. Evercore ISI raised their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Trading Down 2.2 %

Equinix stock opened at $888.30 on Friday. The business’s 50-day simple moving average is $869.56 and its 200-day simple moving average is $805.80. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. The firm has a market capitalization of $84.34 billion, a PE ratio of 80.10, a PEG ratio of 2.19 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.55% and a net margin of 12.29%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $8.04 earnings per share. Equities research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.92%. Equinix’s payout ratio is 153.65%.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.