American Century Companies Inc. Has $206.38 Million Stock Holdings in Equinix, Inc. $EQIX

American Century Companies Inc. lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 21.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,500 shares of the financial services provider’s stock after selling 71,432 shares during the period. American Century Companies Inc. owned approximately 0.27% of Equinix worth $206,384,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Equinix by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after acquiring an additional 162,638 shares in the last quarter. State Street Corp grew its holdings in Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after purchasing an additional 220,981 shares during the period. JPMorgan Chase & Co. increased its stake in Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. Principal Financial Group Inc. increased its stake in Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after purchasing an additional 56,592 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Equinix during the second quarter valued at about $892,431,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Trading Up 2.8%

Shares of EQIX stock opened at $974.26 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $95.72 billion, a price-to-earnings ratio of 70.86, a PEG ratio of 2.50 and a beta of 1.06. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $992.90. The company has a 50-day simple moving average of $832.07 and a two-hundred day simple moving average of $801.08.

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

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. Equinix’s dividend payout ratio is currently 150.11%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 927 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the transaction, the executive vice president owned 7,337 shares in the company, valued at approximately $5,882,659.86. This represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 2,094 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.14, for a total transaction of $1,683,869.16. Following the sale, the chairman owned 13,253 shares of the company’s stock, valued at $10,657,267.42. This trade represents a 13.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 14,353 shares of company stock worth $11,283,043. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EQIX. Truist Financial raised their target price on Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research note on Thursday, February 12th. Scotiabank reaffirmed an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, The Goldman Sachs Group boosted their price target on shares of Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Two research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,001.41.

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.