Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,414 shares of the financial services provider’s stock after purchasing an additional 13,945 shares during the period. American Century Companies Inc. owned approximately 0.37% of Equinix worth $295,494,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in shares of Equinix during the fourth quarter valued at about $28,000. GKV Capital Management Co. Inc. bought a new position in shares of Equinix during the first quarter worth about $30,000. Whipplewood Advisors LLC lifted its position in shares of Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 23 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 12 shares during the last quarter. Finally, Pacific Center for Financial Services lifted its position in shares of Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EQIX. The Goldman Sachs Group reduced their price target on shares of Equinix from $1,020.00 to $880.00 and set a “buy” rating on the stock in a research report on Wednesday, July 2nd. Guggenheim assumed coverage on shares of Equinix in a report on Thursday, July 10th. They issued a “buy” rating and a $933.00 target price on the stock. Mizuho cut their target price on shares of Equinix from $1,069.00 to $900.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. Truist Financial lifted their price target on Equinix from $904.00 to $961.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Bank of America cut their price target on Equinix from $1,000.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $962.24.

Equinix Trading Down 1.1%

Equinix stock opened at $775.37 on Friday. The company’s fifty day simple moving average is $811.30 and its 200-day simple moving average is $844.87. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The stock has a market cap of $75.88 billion, a P/E ratio of 75.94, a P/E/G ratio of 1.41 and a beta of 0.90.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company posted $9.22 EPS. Equinix’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be issued a $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix’s dividend payout ratio is currently 183.74%.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Equinix Company Profile

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.