CIBC Asset Management Inc Acquires 764 Shares of Equinix, Inc. (EQIX)
CIBC Asset Management Inc increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,158 shares of the financial services provider’s stock after buying an additional 764 shares during the period. CIBC Asset Management Inc’s holdings in Equinix were worth $3,641,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its stake in shares of Equinix by 0.4% during the second quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock worth $1,174,868,000 after buying an additional 10,307 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,898,601 shares of the financial services provider’s stock worth $847,345,000 after buying an additional 6,178 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Equinix by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 1,384,864 shares of the financial services provider’s stock worth $594,329,000 after buying an additional 168,661 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Equinix by 22.1% in the second quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after purchasing an additional 214,396 shares in the last quarter. Finally, Capital World Investors increased its stake in Equinix by 247.0% in the second quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after purchasing an additional 761,220 shares in the last quarter. 95.09% of the stock is owned by institutional investors and hedge funds.
Shares of Equinix, Inc. (NASDAQ:EQIX) opened at $476.72 on Thursday. Equinix, Inc. has a fifty-two week low of $327.37 and a fifty-two week high of $495.35. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11. The company has a market capitalization of $37,120.00, a P/E ratio of 27.06, a P/E/G ratio of 1.93 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, beating the consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm earned $3.95 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. research analysts forecast that Equinix, Inc. will post 16.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.68%. Equinix’s dividend payout ratio is presently 259.74%.
In other Equinix news, insider Karl Strohmeyer sold 250 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $464.96, for a total transaction of $116,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Earl Campbell sold 1,427 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $459.75, for a total value of $656,063.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,560 shares of company stock valued at $3,459,196. Insiders own 0.58% of the company’s stock.
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EQIX has been the subject of several recent analyst reports. BidaskClub downgraded shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $497.00 target price (up previously from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Berenberg Bank initiated coverage on shares of Equinix in a research note on Tuesday, September 26th. They issued a “buy” rating and a $550.00 target price for the company. Cowen and Company reaffirmed a “buy” rating on shares of Equinix in a research note on Friday, July 21st. Finally, Deutsche Bank AG assumed coverage on shares of Equinix in a report on Tuesday, October 24th. They issued a “buy” rating and a $550.00 price target for the company. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and an average target price of $495.20.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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