CIBC Asset Management Inc Has $9.79 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

CIBC Asset Management Inc cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,934 shares of the financial services provider’s stock after selling 385 shares during the quarter. CIBC Asset Management Inc’s holdings in Equinix were worth $9,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of Equinix by 0.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after acquiring an additional 1,159 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Equinix in the fourth quarter worth $3,724,000. Global Assets Advisory LLC acquired a new position in shares of Equinix in the first quarter worth $15,187,000. Schroder Investment Management Group increased its stake in shares of Equinix by 0.6% in the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its position in Equinix by 48.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 2,133 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

NASDAQ EQIX opened at $832.15 on Wednesday. The firm has a market cap of $78.98 billion, a price-to-earnings ratio of 83.47, a PEG ratio of 2.03 and a beta of 0.68. The company has a 50 day moving average of $796.41 and a 200-day moving average of $794.33. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $8.04 EPS. On average, equities analysts forecast that Equinix, Inc. will post 31.04 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analyst Weigh In

Several research firms have commented on EQIX. Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Mizuho initiated coverage on shares of Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group initiated coverage on shares of Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $876.71.

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.