Franklin Resources Inc. Purchases 111,300 Shares of Bright Horizons Family Solutions Inc. (BFAM)

Franklin Resources Inc. raised its position in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 29.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 485,000 shares of the company’s stock after purchasing an additional 111,300 shares during the quarter. Franklin Resources Inc. owned 0.82% of Bright Horizons Family Solutions worth $37,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BFAM. State Board of Administration of Florida Retirement System raised its stake in shares of Bright Horizons Family Solutions by 0.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,708 shares of the company’s stock valued at $1,501,000 after purchasing an additional 150 shares during the period. First Trust Advisors LP raised its stake in shares of Bright Horizons Family Solutions by 39.9% in the 1st quarter. First Trust Advisors LP now owns 62,820 shares of the company’s stock valued at $4,554,000 after purchasing an additional 17,901 shares during the period. American Century Companies Inc. raised its stake in shares of Bright Horizons Family Solutions by 0.6% in the 1st quarter. American Century Companies Inc. now owns 153,148 shares of the company’s stock valued at $11,102,000 after purchasing an additional 841 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Bright Horizons Family Solutions by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 365,902 shares of the company’s stock valued at $26,524,000 after purchasing an additional 7,554 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Bright Horizons Family Solutions by 83.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the company’s stock valued at $190,000 after purchasing an additional 1,193 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 6,666 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $80.09, for a total value of $533,879.94. Following the completion of the sale, the director now owns 67,284 shares in the company, valued at approximately $5,388,775.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Elizabeth J. Boland sold 29,681 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $78.95, for a total transaction of $2,343,314.95. Following the completion of the sale, the chief financial officer now owns 141,491 shares of the company’s stock, valued at approximately $11,170,714.45. The disclosure for this sale can be found here. Insiders sold a total of 63,429 shares of company stock worth $4,987,519 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

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BFAM has been the topic of several recent research reports. Zacks Investment Research raised Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, June 20th. Citigroup Inc. initiated coverage on Bright Horizons Family Solutions in a research note on Tuesday, July 18th. They issued a “buy” rating and a $90.00 price target on the stock. BidaskClub downgraded Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $85.00 price target (up previously from $83.00) on shares of Bright Horizons Family Solutions in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bright Horizons Family Solutions currently has a consensus rating of “Buy” and an average target price of $84.17.

Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) opened at 80.96 on Friday. The firm has a market cap of $4.79 billion, a P/E ratio of 43.20 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 company has a 50 day moving average price of $79.63 and a 200-day moving average price of $76.10.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $445.55 million for the quarter, compared to analyst estimates of $443.90 million. During the same quarter in the prior year, the business posted $0.61 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, analysts expect that Bright Horizons Family Solutions Inc. will post $2.64 earnings per share for the current fiscal year.

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.

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

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