Westfield Capital Management Co. LP Trims Stock Holdings 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 reduced its holdings in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 15.8% during the first quarter, according to the company in 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 quarter. Westfield Capital Management Co. LP owned 1.04% of Bright Horizons Family Solutions worth $75,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BFAM. Allianz SE increased its position in Bright Horizons Family Solutions by 5,181.0% in the first quarter. Allianz SE now owns 3,327 shares of the company's stock worth $423,000 after buying an additional 3,264 shares in the last quarter. Blueshift Asset Management LLC increased its position in Bright Horizons Family Solutions by 304.9% in the first quarter. Blueshift Asset Management LLC now owns 9,281 shares of the company's stock worth $1,179,000 after buying an additional 6,989 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Bright Horizons Family Solutions in the first quarter worth about $311,000. US Bancorp DE increased its position in Bright Horizons Family Solutions by 3.5% in the first quarter. US Bancorp DE now owns 11,123 shares of the company's stock worth $1,413,000 after buying an additional 379 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in Bright Horizons Family Solutions by 24.5% in the first quarter. Natixis Advisors LLC now owns 27,587 shares of the company's stock worth $3,505,000 after buying an additional 5,436 shares in the last quarter.

Bright Horizons Family Solutions Stock Performance

Shares of NYSE BFAM traded down $0.28 during midday trading on Friday, reaching $119.94. The company had a trading volume of 276,238 shares, compared to its average volume of 491,834. The business's 50-day simple moving average is $120.07 and its 200 day simple moving average is $122.08. The stock has a market cap of $6.87 billion, a P/E ratio of 39.33 and a beta of 1.34. Bright Horizons Family Solutions Inc. has a 1 year low of $103.75 and a 1 year 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.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. The firm had revenue of $731.57 million for the quarter, compared to analyst estimates of $724.32 million. Bright Horizons Family Solutions had a net margin of 6.34% and a return on equity of 15.31%. The business's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts forecast that Bright Horizons Family Solutions Inc. will post 3.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other Bright Horizons Family Solutions news, CFO Elizabeth J. Boland sold 3,500 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $132.16, for a total transaction of $462,560.00. Following the completion of the transaction, the chief financial officer directly owned 80,162 shares in the company, valued at approximately $10,594,209.92. This represents a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David H. Lissy sold 6,282 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $130.10, for a total transaction of $817,288.20. Following the sale, the director directly owned 69,312 shares of the company's stock, valued at $9,017,491.20. The trade was a 8.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,282 shares of company stock valued at $2,212,923. 1.21% of the stock is currently owned by corporate insiders.

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.