State of New Jersey Common Pension Fund D Sells 14,109 Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)

State of New Jersey Common Pension Fund D decreased its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 42.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,501 shares of the company’s stock after selling 14,109 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bright Horizons Family Solutions were worth $2,147,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in Bright Horizons Family Solutions in the 1st quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Bright Horizons Family Solutions by 850.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company’s stock valued at $38,000 after acquiring an additional 306 shares during the period. YHB Investment Advisors Inc. bought a new position in Bright Horizons Family Solutions in the first quarter valued at about $40,000. Daiwa Securities Group Inc. increased its position in Bright Horizons Family Solutions by 73.3% in the second quarter. Daiwa Securities Group Inc. now owns 390 shares of the company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Finally, Principal Securities Inc. bought a new stake in Bright Horizons Family Solutions during the 4th quarter worth about $38,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BFAM. Barclays lifted their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. BMO Capital Markets upped their target price on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on Bright Horizons Family Solutions from $92.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group raised their target price on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $129.25.

Bright Horizons Family Solutions Price Performance

BFAM stock opened at $136.50 on Friday. The stock has a 50-day moving average price of $131.33 and a two-hundred day moving average price of $117.13. Bright Horizons Family Solutions Inc. has a 1 year low of $71.65 and a 1 year high of $141.90. The stock has a market cap of $7.92 billion, a PE ratio of 96.13 and a beta of 1.48. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its earnings results on Thursday, August 1st. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. The business had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. During the same quarter last year, the firm earned $0.54 EPS. Bright Horizons Family Solutions’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Bright Horizons Family Solutions Inc. will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel John Guy Casagrande sold 4,235 shares of Bright Horizons Family Solutions stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $129.86, for a total value of $549,957.10. Following the sale, the general counsel now owns 13,677 shares of the company’s stock, valued at $1,776,095.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel John Guy Casagrande sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $129.86, for a total value of $549,957.10. Following the completion of the sale, the general counsel now directly owns 13,677 shares of the company’s stock, valued at $1,776,095.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $110.20, for a total transaction of $88,160.00. Following the completion of the transaction, the chief operating officer now owns 36,925 shares in the company, valued at $4,069,135. The disclosure for this sale can be found here. Insiders have sold 24,635 shares of company stock valued at $3,198,948 in the last three months. 1.22% of the stock is currently owned by corporate insiders.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.