Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,843 shares of the financial services provider's stock, valued at approximately $11,167,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in shares of Equinix during the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter valued at $39,000. Sierra Ocean LLC bought a new stake in Equinix during the fourth quarter valued at about $42,000. Dunhill Financial LLC increased its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after buying an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Equinix in the fourth quarter worth about $47,000. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Equinix presently has a consensus rating of "Buy" and an average price target of $989.35.

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Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. Insiders own 0.27% of the company's stock.

Equinix Trading Up 1.7 %

EQIX stock traded up $14.07 during midday trading on Wednesday, reaching $855.33. 1,062,029 shares of the company traded hands, compared to its average volume of 531,287. The firm has a market capitalization of $83.25 billion, a price-to-earnings ratio of 100.04, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The business has a 50 day moving average of $908.77 and a 200-day moving average of $909.04. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix's dividend payout ratio is 219.42%.

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.