Decatur Capital Management Inc. lowered its holdings in Equinix Inc (NASDAQ:EQIX) by 27.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,861 shares of the financial services provider’s stock after selling 3,350 shares during the period. Decatur Capital Management Inc.’s holdings in Equinix were worth $5,111,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC bought a new stake in Equinix in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter valued at about $26,000. Carroll Financial Associates Inc. boosted its holdings in Equinix by 63.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 21 shares during the period. Meridian Wealth Management LLC bought a new stake in shares of Equinix during the 1st quarter worth approximately $28,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Equinix during the 2nd quarter worth approximately $29,000. 98.41% of the stock is owned by hedge funds and other institutional investors.
EQIX stock traded down $1.40 during trading on Friday, reaching $570.80. 6,364 shares of the company were exchanged, compared to its average volume of 425,621. The company has a 50-day moving average of $560.85 and a two-hundred day moving average of $509.78. The company has a market capitalization of $46.05 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 1.89 and a beta of 0.69. Equinix Inc has a twelve month low of $335.29 and a twelve month high of $609.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.59.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. Equinix had a return on equity of 6.29% and a net margin of 9.29%. Equinix’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.63 earnings per share. On average, analysts forecast that Equinix Inc will post 20.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, August 20th. Equinix’s dividend payout ratio is 47.56%.
In other Equinix news, CAO Simon Miller sold 475 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $564.11, for a total value of $267,952.25. Following the completion of the transaction, the chief accounting officer now directly owns 951 shares in the company, valued at approximately $536,468.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 2,960 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $516.44, for a total transaction of $1,528,662.40. Following the completion of the transaction, the insider now owns 19,253 shares of the company’s stock, valued at $9,943,019.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,409 shares of company stock valued at $6,727,033. 0.49% of the stock is owned by corporate insiders.
EQIX has been the subject of a number of recent analyst reports. BidaskClub raised shares of Equinix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 25th. Stifel Nicolaus upped their price target on shares of Equinix from $550.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Mitsubishi UFJ Financial Group initiated coverage on shares of Equinix in a report on Tuesday, September 10th. They set an “overweight” rating and a $605.00 price target for the company. ValuEngine downgraded shares of Equinix from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Oppenheimer upped their price target on shares of Equinix from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $535.40.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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