Bright Horizons Family Solutions Inc. (NYSE:BFAM) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 174.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 344,397 shares of the company's stock after purchasing an additional 218,707 shares during the period. Allspring Global Investments Holdings LLC owned about 0.59% of Bright Horizons Family Solutions worth $48,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Bright Horizons Family Solutions in the 1st quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in Bright Horizons Family Solutions in the third quarter valued at about $35,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Bright Horizons Family Solutions by 850.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company's stock worth $38,000 after purchasing an additional 306 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Bright Horizons Family Solutions by 73.3% during the second quarter. Daiwa Securities Group Inc. now owns 390 shares of the company's stock valued at $43,000 after buying an additional 165 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Bright Horizons Family Solutions by 68.3% in the 2nd quarter. Quarry LP now owns 436 shares of the company's stock valued at $48,000 after buying an additional 177 shares in the last quarter.

Bright Horizons Family Solutions Stock Performance

NYSE:BFAM traded up $2.07 during midday trading on Wednesday, hitting $132.59. The company's stock had a trading volume of 394,598 shares, compared to its average volume of 350,514. Bright Horizons Family Solutions Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $141.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $7.69 billion, a P/E ratio of 91.92 and a beta of 1.48. The firm's 50 day moving average is $137.00 and its 200-day moving average is $120.71.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. 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 business earned $0.54 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Bright Horizons Family Solutions Inc. will post 2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on BFAM. UBS Group increased their target price on shares of Bright Horizons Family Solutions from $128.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Barclays raised their price objective on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 30th. Robert W. Baird upped their target price on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price target on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $134.63.

Insider Activity

In other news, COO Mary Lou Burke sold 14,500 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $130.90, for a total transaction of $1,898,050.00. Following the sale, the chief operating officer now owns 33,425 shares of the company's stock, valued at $4,375,332.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel John Guy Casagrande sold 4,235 shares of the business'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 value of $549,957.10. Following the completion of the sale, the general counsel now directly owns 13,677 shares in the company, valued at $1,776,095.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mary Lou Burke sold 14,500 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $130.90, for a total value of $1,898,050.00. Following the transaction, the chief operating officer now directly owns 33,425 shares of the company's stock, valued at approximately $4,375,332.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,635 shares of company stock valued at $3,100,340 in the last quarter. 1.22% of the stock is currently owned by company 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.