Envestnet Portfolio Solutions Inc. Purchases 2,448 Shares of Equinix, Inc. (NASDAQ:EQIX)

Envestnet Portfolio Solutions Inc. raised its position in Equinix, Inc. (NASDAQ:EQIX) by 22.6% during the second quarter, Holdings Channel reports. The firm owned 13,274 shares of the financial services provider’s stock after purchasing an additional 2,448 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Equinix were worth $10,043,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CNB Bank grew its stake in Equinix by 172.7% during the first 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 stake in shares of Equinix in the 2nd quarter valued at $30,000. LRI Investments LLC acquired a new position in shares of Equinix during the 1st quarter valued at $31,000. Criterion Capital Advisors LLC bought a new position in Equinix during the fourth quarter worth $32,000. Finally, Rise Advisors LLC bought a new position in Equinix during the first quarter worth $39,000. 94.94% of the stock is owned by institutional investors.

Equinix Stock Down 1.2 %

NASDAQ:EQIX traded down $9.86 on Thursday, hitting $831.63. The stock had a trading volume of 179,840 shares, compared to its average volume of 563,651. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The firm’s fifty day simple moving average is $778.67 and its two-hundred day simple moving average is $796.59. The stock has a market cap of $78.93 billion, a P/E ratio of 84.40, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business posted $8.04 earnings per share. The business’s 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 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 paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Analysts Set New Price Targets

EQIX has been the topic of several research reports. Barclays upped their price objective on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Mizuho assumed coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target on the stock. TD Cowen raised their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group began coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $877.79.

Equinix 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.