Wells Fargo & Company MN Trims Holdings in Bright Horizons Family Solutions (BFAM)

Wells Fargo & Company MN reduced its holdings in shares of Bright Horizons Family Solutions (NYSE:BFAM) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,592,690 shares of the company’s stock after selling 63,903 shares during the period. Wells Fargo & Company MN owned about 2.75% of Bright Horizons Family Solutions worth $158,823,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in Bright Horizons Family Solutions during the fourth quarter valued at approximately $567,000. LPL Financial LLC increased its holdings in Bright Horizons Family Solutions by 22.2% during the fourth quarter. LPL Financial LLC now owns 10,335 shares of the company’s stock valued at $971,000 after buying an additional 1,880 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in Bright Horizons Family Solutions during the fourth quarter valued at approximately $47,584,000. Invictus RG purchased a new stake in Bright Horizons Family Solutions during the fourth quarter valued at approximately $402,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Bright Horizons Family Solutions by 11.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 290,698 shares of the company’s stock valued at $27,326,000 after buying an additional 29,775 shares during the last quarter.

Shares of Bright Horizons Family Solutions opened at $99.41 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.38 and a quick ratio of 0.38. Bright Horizons Family Solutions has a fifty-two week low of $75.55 and a fifty-two week high of $105.04. The firm has a market cap of $5.76 billion, a P/E ratio of 37.51, a P/E/G ratio of 2.24 and a beta of 0.09.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Monday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Bright Horizons Family Solutions had a net margin of 8.58% and a return on equity of 21.28%. The firm had revenue of $463.66 million during the quarter, compared to analyst estimates of $461.15 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. Bright Horizons Family Solutions’s revenue for the quarter was up 9.8% on a year-over-year basis. research analysts anticipate that Bright Horizons Family Solutions will post 2.96 earnings per share for the current year.

In related news, Chairman David H. Lissy sold 100,000 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $102.35, for a total transaction of $10,235,000.00. Following the completion of the transaction, the chairman now owns 327,693 shares in the company, valued at $33,539,378.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Ann Tocio sold 3,600 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $92.55, for a total transaction of $333,180.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,077 shares of company stock valued at $16,608,061. 2.20% of the stock is owned by company insiders.

BFAM has been the subject of a number of recent analyst reports. Goldman Sachs initiated coverage on shares of Bright Horizons Family Solutions in a research report on Tuesday, March 27th. They issued a “neutral” rating and a $104.00 price target for the company. Credit Suisse Group upped their price target on shares of Bright Horizons Family Solutions from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. ValuEngine upgraded shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BMO Capital Markets dropped their price target on shares of Bright Horizons Family Solutions from $107.00 to $105.00 and set a “market perform” rating for the company in a research report on Tuesday, May 1st. Finally, Zacks Investment Research lowered shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $103.73.

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.

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

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