Envestnet Asset Management Inc. Lowers Stock Holdings in Bright Horizons Family Solutions Inc. $BFAM

Envestnet Asset Management Inc. cut its holdings in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 317,500 shares of the company’s stock after selling 12,938 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bright Horizons Family Solutions were worth $34,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BFAM. Norges Bank acquired a new stake in shares of Bright Horizons Family Solutions in the second quarter worth $87,648,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Bright Horizons Family Solutions by 171.0% in the second quarter. Conestoga Capital Advisors LLC now owns 858,010 shares of the company’s stock valued at $106,041,000 after buying an additional 541,440 shares during the period. M&G PLC boosted its position in shares of Bright Horizons Family Solutions by 246.4% in the 2nd quarter. M&G PLC now owns 690,022 shares of the company’s stock valued at $85,563,000 after purchasing an additional 490,814 shares during the period. Goldman Sachs Group Inc. boosted its position in Bright Horizons Family Solutions by 149.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 614,293 shares of the company’s stock worth $78,040,000 after acquiring an additional 367,711 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in Bright Horizons Family Solutions by 330.3% during the second quarter. Qube Research & Technologies Ltd now owns 430,388 shares of the company’s stock valued at $53,192,000 after purchasing an additional 330,377 shares in the last quarter.

Bright Horizons Family Solutions Price Performance

Shares of BFAM opened at $81.45 on Thursday. The stock has a market cap of $4.61 billion, a PE ratio of 23.40, a PEG ratio of 1.03 and a beta of 1.40. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $97.18 and a two-hundred day simple moving average of $104.39. Bright Horizons Family Solutions Inc. has a 12-month low of $80.79 and a 12-month high of $132.99.

Analyst Ratings Changes

Several research analysts recently commented on BFAM shares. The Goldman Sachs Group dropped their target price on shares of Bright Horizons Family Solutions from $146.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. upped their price target on Bright Horizons Family Solutions from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. BMO Capital Markets restated an “outperform” rating and set a $124.00 price objective on shares of Bright Horizons Family Solutions in a report on Friday, October 31st. Wall Street Zen cut shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Finally, Robert W. Baird set a $136.00 price target on Bright Horizons Family Solutions in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bright Horizons Family Solutions has a consensus rating of “Hold” and a consensus target price of $126.43.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions, Inc (NYSE: BFAM) is a leading provider of employer-sponsored child care and early education services, offering a range of solutions designed to support working families and organizations. Through a network of on-site, near-site and center-based programs, the company partners with corporate and nonprofit clients to deliver infant, toddler, preschool and school-age care. Services emphasize age-appropriate curriculum, developmental milestones and community engagement to ensure high-quality learning experiences.