State Street Corp trimmed its holdings in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 25.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,699 shares of the company’s stock after selling 214,745 shares during the period. State Street Corp owned about 1.06% of Bright Horizons Family Solutions worth $48,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BFAM. BlackRock Inc. increased its stake in shares of Bright Horizons Family Solutions by 73,144.9% during the 1st quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock worth $198,843,000 after purchasing an additional 2,739,278 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Bright Horizons Family Solutions by 3,798.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 692,158 shares of the company’s stock worth $53,441,000 after purchasing an additional 674,404 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Bright Horizons Family Solutions by 108.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock worth $89,056,000 after purchasing an additional 599,907 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bright Horizons Family Solutions by 11.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,888,575 shares of the company’s stock worth $300,237,000 after purchasing an additional 410,335 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Bright Horizons Family Solutions during the 2nd quarter worth approximately $17,171,000. 97.25% of the stock is owned by institutional investors and hedge funds.

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In related news, CFO Elizabeth J. Boland sold 19,681 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $85.16, for a total transaction of $1,676,033.96. Following the completion of the sale, the chief financial officer now owns 152,977 shares in the company, valued at $13,027,521.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mary Lou Burke sold 750 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $79.85, for a total value of $59,887.50. Following the sale, the chief operating officer now owns 32,016 shares of the company’s stock, valued at approximately $2,556,477.60. The disclosure for this sale can be found here. Insiders sold 80,444 shares of company stock valued at $6,516,524 in the last 90 days. Company insiders own 2.90% of the company’s stock.

A number of brokerages have recently weighed in on BFAM. Credit Suisse Group raised their price objective on shares of Bright Horizons Family Solutions from $83.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday. Zacks Investment Research raised shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, August 4th. Citigroup Inc began coverage on shares of Bright Horizons Family Solutions in a research note on Tuesday, July 18th. They set a “buy” rating and a $90.00 price objective for the company. BidaskClub cut shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Bright Horizons Family Solutions in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $89.17.

Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) opened at $89.11 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $5.25 billion, a PE ratio of 37.26, a P/E/G ratio of 1.78 and a beta of 0.13.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Bright Horizons Family Solutions had a return on equity of 20.16% and a net margin of 7.22%. The firm had revenue of $433.30 million during the quarter, compared to analysts’ expectations of $429.36 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. research analysts forecast that Bright Horizons Family Solutions Inc. will post 2.5 earnings per share for the current fiscal year.

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 as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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