Congress Asset Management Co. Has $4 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Congress Asset Management Co. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,507 shares of the financial services provider’s stock after selling 159 shares during the quarter. Congress Asset Management Co.’s holdings in Equinix were worth $4,001,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EQIX. Cypress Capital Group increased its holdings in shares of Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after buying an additional 13 shares in the last quarter. MRA Advisory Group increased its holdings in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Banco Santander S.A. grew its holdings in shares of Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock worth $9,071,764 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $888.30 on Friday. The stock has a market cap of $84.34 billion, a PE ratio of 80.10, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The stock has a 50-day moving average of $869.56 and a 200-day moving average of $805.80. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02.

Equinix (NASDAQ:EQIX) last issued its earnings results 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). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.55%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $8.04 EPS. As a group, sell-side analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Truist Financial upped their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Scotiabank raised their price target on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $944.63.

About Equinix

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.