First Personal Financial Services Grows Stock Position in Equinix, Inc. (NASDAQ:EQIX)

First Personal Financial Services boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,711 shares of the financial services provider’s stock after buying an additional 281 shares during the quarter. Equinix accounts for approximately 1.7% of First Personal Financial Services’ investment portfolio, making the stock its 25th largest position. First Personal Financial Services’ holdings in Equinix were worth $7,347,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EQIX. CNB Bank boosted its stake in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC purchased a new stake in shares of Equinix in the first quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in shares of Equinix during the 1st quarter worth approximately $39,000. Finally, Rational Advisors LLC purchased a new position in Equinix during the 1st quarter valued at $53,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.9 %

Shares of EQIX stock traded up $15.62 during trading hours on Friday, reaching $834.36. 520,987 shares of the company’s stock were exchanged, compared to its average volume of 552,091. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The stock’s 50 day moving average is $791.59 and its 200-day moving average is $795.42. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a market cap of $79.19 billion, a price-to-earnings ratio of 83.69, a P/E/G ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 7.73% and a net margin of 11.32%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm earned $8.04 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Equinix, Inc. will post 31.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Analyst Ratings Changes

Several analysts have recently weighed in on EQIX shares. Barclays lifted their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Royal Bank of Canada lowered their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. TD Cowen upped their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, 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 report on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average price target of $876.71.

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.