Intech Investment Management LLC Has $61.16 Million Holdings in Equinix, Inc. $EQIX

Intech Investment Management LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 168.1% in the 3rd quarter, Holdings Channel reports. The fund owned 78,091 shares of the financial services provider’s stock after buying an additional 48,967 shares during the period. Equinix makes up approximately 0.5% of Intech Investment Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Intech Investment Management LLC’s holdings in Equinix were worth $61,164,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Brighton Jones LLC lifted its holdings in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares during the period. Empowered Funds LLC raised its position in Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after buying an additional 546 shares during the period. Schnieders Capital Management LLC. purchased a new stake in Equinix in the 2nd quarter worth about $231,000. Finally, Wealthfront Advisers LLC boosted its position in Equinix by 1.6% during the 2nd quarter. Wealthfront Advisers LLC now owns 4,258 shares of the financial services provider’s stock worth $3,387,000 after acquiring an additional 67 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EQIX. Morgan Stanley reiterated an “overweight” rating and issued a $1,075.00 target price on shares of Equinix in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a research note on Tuesday, January 6th. HSBC set a $1,050.00 target price on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company upped their price target on shares of Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Finally, Barclays reiterated a “positive” rating and set a $870.00 price objective on shares of Equinix in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $1,001.41.

Equinix Stock Up 0.9%

EQIX stock opened at $960.52 on Thursday. The firm has a market cap of $94.37 billion, a PE ratio of 69.86, a PEG ratio of 1.89 and a beta of 1.06. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90. The company has a fifty day simple moving average of $823.68 and a 200 day simple moving average of $798.58. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business earned $7.92 earnings per share. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be issued a $5.16 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 2.1%. Equinix’s dividend payout ratio is presently 136.44%.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 596 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $477,860.88. Following the completion of the sale, the insider directly owned 3,195 shares in the company, valued at approximately $2,561,687.10. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Lin sold 888 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $711,980.64. Following the sale, the insider directly owned 9,390 shares of the company’s stock, valued at approximately $7,528,714.20. This represents a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 14,353 shares of company stock worth $11,283,043. 0.27% of the stock is currently owned by company insiders.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.