First Mercantile Trust Co. lowered its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,636 shares of the company’s stock after selling 2,815 shares during the period. First Mercantile Trust Co.’s holdings in Bright Horizons Family Solutions were worth $822,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new position in shares of Bright Horizons Family Solutions during the second quarter valued at $123,000. FTB Advisors Inc. raised its position in shares of Bright Horizons Family Solutions by 106.7% in the first quarter. FTB Advisors Inc. now owns 1,660 shares of the company’s stock valued at $126,000 after buying an additional 857 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Bright Horizons Family Solutions by 83.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the company’s stock valued at $190,000 after buying an additional 1,193 shares during the period. Connable Office Inc. purchased a new position in shares of Bright Horizons Family Solutions during the second quarter valued at $208,000. Finally, Atria Investments LLC purchased a new position in shares of Bright Horizons Family Solutions during the first quarter valued at $238,000. 98.81% of the stock is owned by institutional investors and hedge funds.

Bright Horizons Family Solutions Inc. (NYSE:BFAM) opened at 79.16 on Friday. The stock has a 50 day moving average price of $78.23 and a 200-day moving average price of $74.39. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 42.24 and a beta of 0.12. Bright Horizons Family Solutions Inc. has a 12-month low of $59.00 and a 12-month high of $82.00.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $445.55 million during the quarter, compared to the consensus estimate of $443.90 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that Bright Horizons Family Solutions Inc. will post $2.64 EPS for the current fiscal year.

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Several brokerages have weighed in on BFAM. Credit Suisse Group reissued an “outperform” rating and set a $80.00 price objective on shares of Bright Horizons Family Solutions in a report on Monday, April 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $83.00 price target on shares of Bright Horizons Family Solutions in a report on Monday, May 15th. Citigroup Inc. initiated coverage on Bright Horizons Family Solutions in a report on Tuesday, July 18th. They issued a “buy” rating and a $90.00 price target for the company. Zacks Investment Research raised Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Friday, August 4th. Finally, BidaskClub lowered Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.75.

In other news, Director Mary Ann Tocio sold 25,466 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $79.25, for a total transaction of $2,018,180.50. Following the completion of the sale, the director now owns 59,336 shares of the company’s stock, valued at approximately $4,702,378. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $79.98, for a total transaction of $79,980.00. Following the sale, the chief operating officer now directly owns 32,266 shares of the company’s stock, valued at approximately $2,580,634.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,193,394 shares of company stock valued at $332,246,231. Insiders own 2.90% of the company’s stock.

About Bright Horizons Family Solutions

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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