Westfield Capital Management Co. LP Trims Stock Position in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Key Points

• Westfield Capital Management Co. LP reduced its position in Bright Horizons Family Solutions Inc. by 15.8%, now holding 595,338 shares valued at approximately $75.6 million.
• Analysts have set new price targets for the company, with Jefferies Financial Group lowering its target from $146.00 to $135.00 and Morgan Stanley from $106.00 to $100.00.
• In recent insider trading, Director Mary Ann Tocio sold 2,500 shares for over $321,000, while Director David H. Lissy sold 6,282 shares for approximately $817,000.

Westfield Capital Management Co. LP lessened its holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 15.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 595,338 shares of the company's stock after selling 111,767 shares during the period. Westfield Capital Management Co. LP owned 1.04% of Bright Horizons Family Solutions worth $75,632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. SG Americas Securities LLC raised its position in shares of Bright Horizons Family Solutions by 355.6% in the first quarter. SG Americas Securities LLC now owns 11,139 shares of the company's stock valued at $1,415,000 after buying an additional 8,694 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Bright Horizons Family Solutions by 13.8% in the first quarter. Impax Asset Management Group plc now owns 29,044 shares of the company's stock valued at $3,690,000 after buying an additional 3,514 shares during the last quarter. Stephens Investment Management Group LLC raised its position in shares of Bright Horizons Family Solutions by 9.9% in the first quarter. Stephens Investment Management Group LLC now owns 612,835 shares of the company's stock valued at $77,855,000 after buying an additional 55,115 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Bright Horizons Family Solutions by 4.3% in the first quarter. Bessemer Group Inc. now owns 289,884 shares of the company's stock valued at $36,826,000 after buying an additional 11,967 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Bright Horizons Family Solutions by 57.5% in the fourth quarter. Barclays PLC now owns 30,272 shares of the company's stock valued at $3,355,000 after buying an additional 11,057 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BFAM shares. Jefferies Financial Group lowered shares of Bright Horizons Family Solutions from a "buy" rating to a "hold" rating and cut their price objective for the company from $146.00 to $135.00 in a research report on Monday, June 23rd. Morgan Stanley cut their price target on shares of Bright Horizons Family Solutions from $106.00 to $100.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Bright Horizons Family Solutions currently has an average rating of "Moderate Buy" and an average price target of $137.75.

Insider Buying and Selling at Bright Horizons Family Solutions

In other news, Director Mary Ann Tocio sold 2,500 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.49, for a total value of $321,225.00. Following the transaction, the director owned 20,257 shares of the company's stock, valued at approximately $2,602,821.93. This trade represents a 10.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David H. Lissy sold 6,282 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $130.10, for a total transaction of $817,288.20. Following the completion of the transaction, the director directly owned 69,312 shares in the company, valued at approximately $9,017,491.20. This represents a 8.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,282 shares of company stock worth $1,723,633. 1.21% of the stock is currently owned by insiders.

Bright Horizons Family Solutions Stock Performance

Shares of BFAM stock opened at $125.09 on Monday. The company's fifty day simple moving average is $120.82 and its 200-day simple moving average is $122.07. Bright Horizons Family Solutions Inc. has a 52 week low of $103.75 and a 52 week high of $141.90. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.16 billion, a PE ratio of 41.01 and a beta of 1.34.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. Bright Horizons Family Solutions had a net margin of 6.34% and a return on equity of 15.31%. The business had revenue of $731.57 million for the quarter, compared to the consensus estimate of $724.32 million. During the same quarter last year, the firm posted $0.88 EPS. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current year.

About Bright Horizons Family Solutions

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.

Want to see what other hedge funds are holding BFAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.