Wells Fargo & Company MN Reduces Holdings in Bright Horizons Family Solutions Inc (NYSE:BFAM)

Wells Fargo & Company MN lessened its holdings in shares of Bright Horizons Family Solutions Inc (NYSE:BFAM) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,293,504 shares of the company’s stock after selling 138,364 shares during the period. Wells Fargo & Company MN owned approximately 2.23% of Bright Horizons Family Solutions worth $152,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC increased its holdings in Bright Horizons Family Solutions by 51.3% during the 3rd quarter. Private Advisor Group LLC now owns 7,976 shares of the company’s stock valued at $940,000 after acquiring an additional 2,706 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Bright Horizons Family Solutions in the third quarter worth approximately $200,000. Sterling Capital Management LLC acquired a new stake in shares of Bright Horizons Family Solutions in the third quarter worth approximately $252,000. State Board of Administration of Florida Retirement System boosted its position in shares of Bright Horizons Family Solutions by 3.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 56,849 shares of the company’s stock worth $6,699,000 after acquiring an additional 1,819 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Bright Horizons Family Solutions in the third quarter worth approximately $147,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

A number of analysts recently issued reports on BFAM shares. Zacks Investment Research upgraded shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Wednesday, November 7th. Robert W. Baird boosted their price target on shares of Bright Horizons Family Solutions from $115.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Barclays boosted their price target on shares of Bright Horizons Family Solutions from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. BMO Capital Markets dropped their price target on shares of Bright Horizons Family Solutions from $123.00 to $120.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 6th. Finally, JPMorgan Chase & Co. lifted their target price on Bright Horizons Family Solutions from $121.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $113.36.

In related news, Director E Townes Duncan sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $117.39, for a total value of $234,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lightfoot Sara Lawrence sold 3,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $117.72, for a total value of $353,160.00. Following the completion of the sale, the director now owns 6,207 shares of the company’s stock, valued at $730,688.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,300 shares of company stock valued at $3,758,970. Corporate insiders own 2.20% of the company’s stock.

Shares of BFAM stock traded up $2.07 during trading hours on Monday, hitting $123.75. 357,200 shares of the company’s stock were exchanged, compared to its average volume of 245,481. The stock has a market capitalization of $7.07 billion, a PE ratio of 48.53, a PEG ratio of 3.41 and a beta of 0.23. Bright Horizons Family Solutions Inc has a 52 week low of $89.16 and a 52 week high of $123.93. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.39 and a current ratio of 0.39.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results on Thursday, November 1st. The company reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. Bright Horizons Family Solutions had a return on equity of 22.55% and a net margin of 8.73%. The firm had revenue of $472.00 million for the quarter, compared to analyst estimates of $471.85 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts forecast that Bright Horizons Family Solutions Inc will post 2.97 earnings per share for the current fiscal year.

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About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides child care and early education, back-up dependent care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services.

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

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