9,247 Shares in Bright Horizons Family Solutions Inc. (BFAM) Purchased by Utah Retirement Systems

Utah Retirement Systems acquired a new stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,247 shares of the company’s stock, valued at approximately $714,000.

Several other hedge funds have also modified their holdings of BFAM. Public Employees Retirement Association of Colorado bought a new stake in shares of Bright Horizons Family Solutions during the 2nd quarter valued at $123,000. BNP Paribas Arbitrage SA grew its position in shares of Bright Horizons Family Solutions by 83.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the company’s stock valued at $190,000 after acquiring an additional 1,193 shares during the period. Connable Office Inc. bought a new stake in shares of Bright Horizons Family Solutions during the 2nd quarter valued at $208,000. Comerica Bank bought a new stake in shares of Bright Horizons Family Solutions during the 2nd quarter valued at $230,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Bright Horizons Family Solutions during the 1st quarter valued at $256,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Shares of Bright Horizons Family Solutions Inc. (BFAM) opened at 80.73 on Wednesday. The stock has a market cap of $4.78 billion, a PE ratio of 43.08 and a beta of 0.13. Bright Horizons Family Solutions Inc. has a 52 week low of $59.00 and a 52 week high of $82.00. The firm has a 50-day moving average of $79.44 and a 200 day moving average of $75.86.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Bright Horizons Family Solutions had a net margin of 6.91% and a return on equity of 19.19%. The business had revenue of $445.55 million for the quarter, compared to analyst estimates of $443.90 million. During the same quarter last year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that Bright Horizons Family Solutions Inc. will post $2.64 EPS for the current fiscal year.

In other news, CFO Elizabeth J. Boland sold 29,681 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $78.95, for a total value of $2,343,314.95. Following the transaction, the chief financial officer now directly owns 141,491 shares of the company’s stock, valued at $11,170,714.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mandy Berman sold 3,699 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $75.94, for a total transaction of $280,902.06. Following the completion of the transaction, the chief accounting officer now directly owns 16,125 shares in the company, valued at $1,224,532.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,128 shares of company stock worth $5,268,421. Company insiders own 2.90% of the company’s stock.

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A number of brokerages have recently issued reports on BFAM. 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 report on Friday, August 4th. Citigroup Inc. began coverage on shares of Bright Horizons Family Solutions in a research report on Tuesday, July 18th. They set a “buy” rating and a $90.00 price objective for the company. BidaskClub downgraded shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Bright Horizons Family Solutions currently has a consensus rating of “Buy” and a consensus target price of $84.00.

Bright Horizons Family Solutions 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.

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

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