Needham Investment Management LLC Has $15.34 Million Stock Position in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Needham Investment Management LLC boosted its stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,500 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Bright Horizons Family Solutions comprises about 1.2% of Needham Investment Management LLC’s holdings, making the stock its 29th biggest position. Needham Investment Management LLC’s holdings in Bright Horizons Family Solutions were worth $15,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BFAM. OLD National Bancorp IN increased its stake in Bright Horizons Family Solutions by 2.7% during the 3rd quarter. OLD National Bancorp IN now owns 3,159 shares of the company’s stock valued at $443,000 after purchasing an additional 82 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Bright Horizons Family Solutions by 6.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 119 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Bright Horizons Family Solutions by 2.9% in the third quarter. Avior Wealth Management LLC now owns 4,674 shares of the company’s stock valued at $655,000 after purchasing an additional 133 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Bright Horizons Family Solutions by 37.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 535 shares of the company’s stock valued at $75,000 after buying an additional 145 shares during the last quarter. Finally, MJP Associates Inc. ADV lifted its stake in Bright Horizons Family Solutions by 7.0% during the 2nd quarter. MJP Associates Inc. ADV now owns 2,390 shares of the company’s stock valued at $263,000 after acquiring an additional 157 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on BFAM. JPMorgan Chase & Co. increased their price objective on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Baird R W raised shares of Bright Horizons Family Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Morgan Stanley increased their price objective on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th. Barclays boosted their target price on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, UBS Group raised their price objective on shares of Bright Horizons Family Solutions from $145.00 to $148.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. One 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 data from MarketBeat, Bright Horizons Family Solutions has a consensus rating of “Moderate Buy” and an average target price of $141.50.

Insider Activity at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.65, for a total value of $112,520.00. Following the completion of the sale, the chief operating officer now directly owns 31,825 shares of the company’s stock, valued at $4,476,186.25. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is owned by insiders.

Bright Horizons Family Solutions Price Performance

Shares of BFAM stock remained flat at $115.43 on Tuesday. The company had a trading volume of 31,753 shares, compared to its average volume of 392,243. The company has a 50-day simple moving average of $125.75 and a 200 day simple moving average of $122.64. Bright Horizons Family Solutions Inc. has a one year low of $87.82 and a one year high of $141.90. The firm has a market cap of $6.72 billion, a P/E ratio of 58.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.61 and a quick ratio of 0.61.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its earnings results on Monday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.05. The business had revenue of $719.00 million during the quarter, compared to analyst estimates of $713.16 million. Bright Horizons Family Solutions had a net margin of 4.44% and a return on equity of 13.23%. Bright Horizons Family Solutions’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Research analysts expect that Bright Horizons Family Solutions Inc. will post 3 EPS for the current year.

Bright Horizons Family Solutions Company Profile

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.