Envestnet Asset Management Inc. Acquires 15,291 Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Envestnet Asset Management Inc. increased its holdings in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 5.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 315,078 shares of the company’s stock after purchasing an additional 15,291 shares during the period. Envestnet Asset Management Inc. owned 0.54% of Bright Horizons Family Solutions worth $34,684,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Riverview Trust Co bought a new stake in Bright Horizons Family Solutions during the 1st quarter valued at $25,000. Principal Securities Inc. bought a new stake in Bright Horizons Family Solutions during the fourth quarter valued at about $38,000. Whittier Trust Co. of Nevada Inc. boosted its position in 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 purchasing an additional 306 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Bright Horizons Family Solutions in the first quarter valued at about $40,000. Finally, Daiwa Securities Group Inc. raised its holdings 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 in the last quarter.

Analysts Set New Price Targets

BFAM has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 30th. The Goldman Sachs Group lifted their price target on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets increased their price objective on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.25.

Insider Buying and Selling

In other Bright Horizons Family Solutions news, 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 value of $88,160.00. Following the sale, the chief operating officer now directly owns 36,925 shares of the company’s stock, valued at $4,069,135. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $110.20, for a total value of $88,160.00. Following the completion of the transaction, the chief operating officer now directly owns 36,925 shares of the company’s stock, valued at $4,069,135. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $549,957.10. Following the sale, the general counsel now directly owns 13,677 shares in the company, valued at approximately $1,776,095.22. The disclosure for this sale can be found here. Insiders sold a total of 24,635 shares of company stock valued at $3,198,948 over the last 90 days. Insiders own 1.22% of the company’s stock.

Bright Horizons Family Solutions Stock Performance

Shares of BFAM opened at $139.06 on Friday. The stock has a 50-day moving average of $131.81 and a two-hundred day moving average of $117.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $8.07 billion, a P/E ratio of 97.93 and a beta of 1.48. Bright Horizons Family Solutions Inc. has a one year low of $71.65 and a one year high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Thursday, August 1st. The company reported $0.88 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 firm had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Bright Horizons Family Solutions’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts predict that Bright Horizons Family Solutions Inc. will post 2.98 EPS for the current year.

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.