Westpac Banking Corp maintained its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) during the second quarter, Holdings Channel reports. The institutional investor owned 89,000 shares of the company’s stock at the end of the second quarter. Westpac Banking Corp owned approximately 0.15% of Bright Horizons Family Solutions worth $5,902,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in Bright Horizons Family Solutions by 6,110.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,739 shares of the company’s stock valued at $115,000 after buying an additional 1,711 shares during the period. Invictus RG increased its position in Bright Horizons Family Solutions by 655.6% in the first quarter. Invictus RG now owns 1,821 shares of the company’s stock valued at $118,000 after buying an additional 1,580 shares during the period. Glenmede Trust Co. NA bought a new position in Bright Horizons Family Solutions during the second quarter valued at approximately $131,000. BlackRock Inc. increased its position in Bright Horizons Family Solutions by 128.7% in the first quarter. BlackRock Inc. now owns 2,484 shares of the company’s stock valued at $161,000 after buying an additional 1,398 shares during the period. Finally, Stephens Inc. AR increased its position in Bright Horizons Family Solutions by 20.1% in the second quarter. Stephens Inc. AR now owns 2,708 shares of the company’s stock valued at $180,000 after buying an additional 453 shares during the period.

Bright Horizons Family Solutions Inc. (NYSE:BFAM) traded up 0.157% during midday trading on Wednesday, hitting $66.955. The stock had a trading volume of 5,846 shares. Bright Horizons Family Solutions Inc. has a 1-year low of $59.85 and a 1-year high of $70.59. The company has a 50-day moving average of $67.44 and a 200-day moving average of $65.88. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 41.561 and a beta of 0.14.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Wednesday, August 3rd. The company reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. Bright Horizons Family Solutions had a return on equity of 16.43% and a net margin of 6.53%. The company had revenue of $402 million for the quarter, compared to the consensus estimate of $403.09 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts forecast that Bright Horizons Family Solutions Inc. will post $2.19 EPS for the current year.

Several equities analysts recently commented on the company. Credit Suisse Group AG restated a “buy” rating and set a $74.00 target price on shares of Bright Horizons Family Solutions in a research report on Friday, September 16th. Zacks Investment Research upgraded Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, July 5th. Jefferies Group upgraded Bright Horizons Family Solutions from a “neutral” rating to an “overweight” rating and set a $76.00 price objective for the company in a research report on Monday, August 15th. Finally, JPMorgan Chase & Co. upgraded Bright Horizons Family Solutions from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $76.00 in a research report on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Bright Horizons Family Solutions currently has an average rating of “Buy” and an average price target of $73.43.

In related news, CAO Mandy Berman sold 2,250 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $67.02, for a total transaction of $150,795.00. Following the sale, the chief accounting officer now owns 43,325 shares of the company’s stock, valued at $2,903,641.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Danroy T. Sr Henry, Sr. sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $68.00, for a total value of $510,000.00. Following the sale, the insider now directly owns 2,360 shares in the company, valued at approximately $160,480. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions. The Company’s segments include full service center-based care services, back-up dependent care services and other educational advisory services.

5 Day Chart for NYSE:BFAM

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