Pacer Advisors Inc. Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Pacer Advisors Inc. lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,434 shares of the financial services provider’s stock after purchasing an additional 2,635 shares during the quarter. Pacer Advisors Inc. owned about 0.10% of Equinix worth $68,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CNB Bank boosted its holdings in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the period. LRI Investments LLC purchased a new position in Equinix during the 1st quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix during the 2nd quarter valued at $30,000. Rise Advisors LLC purchased a new position in Equinix during the 1st quarter valued at $39,000. Finally, Meeder Asset Management Inc. purchased a new position in Equinix during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 0.7 %

NASDAQ:EQIX opened at $877.20 on Friday. The stock has a market capitalization of $83.25 billion, a price-to-earnings ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $820.42 and a 200 day moving average of $792.56.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $8.04 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. Equinix’s payout ratio is 170.91%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EQIX. Mizuho boosted their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Royal Bank of Canada decreased their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Barclays lifted their target price on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group initiated coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 target price for the company. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $883.71.

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.