Cardinal Capital Management Inc. Boosts Holdings in Equinix, Inc. (NASDAQ:EQIX)

Cardinal Capital Management Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,130 shares of the financial services provider's stock after acquiring an additional 302 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Equinix were worth $13,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its position in shares of Equinix by 19.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 2,251 shares of the financial services provider's stock worth $1,835,000 after purchasing an additional 371 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Equinix by 5.5% in the first quarter. Farther Finance Advisors LLC now owns 767 shares of the financial services provider's stock worth $626,000 after purchasing an additional 40 shares during the last quarter. Courier Capital LLC increased its stake in shares of Equinix by 9.3% in the first quarter. Courier Capital LLC now owns 2,825 shares of the financial services provider's stock valued at $2,304,000 after buying an additional 240 shares during the period. Vert Asset Management LLC raised its holdings in Equinix by 3.2% during the 1st quarter. Vert Asset Management LLC now owns 24,459 shares of the financial services provider's stock worth $19,943,000 after purchasing an additional 750 shares during the last quarter. Finally, Revolve Wealth Partners LLC bought a new position in Equinix during the first quarter worth $2,158,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Truist Financial decreased their price target on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Cowen reaffirmed a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. Finally, Barclays boosted their target price on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the stock. According to MarketBeat, Equinix has an average rating of "Buy" and a consensus price target of $1,004.80.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the 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 sale, the chief executive officer now directly owns 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 over the last three months. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Down 0.4%

Shares of EQIX stock traded down $3.76 on Friday, hitting $892.67. 81,088 shares of the company's stock traded hands, compared to its average volume of 523,989. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $87.32 billion, a price-to-earnings ratio of 104.41, a P/E/G ratio of 1.78 and a beta of 0.97. The company's fifty day simple moving average is $848.81 and its 200 day simple moving average is $889.65. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business posted $8.86 EPS. The firm's revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is currently 195.01%.

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.