Clifton S. Robbins and his fund, Blue Harbour Group, have taken steps to reduce their exposure to Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX). According to a recently amended filing with the Securities and Exchange Commission, Blue Harbour now holds 9.31 million shares, down from 10.7 million shares reported at the end of the first quarter. The fund’s current position amounts to 4.99% of the company’s common stock.
A provider of information technology and services to healthcare organizations, Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) has recently reported second quarter results that were below Wall Street’s expectations. The company posted $386.5 million in revenue, up 10% year-over-year, and adjusted earnings of $0.14 per share. Analysts, on the other hand, were looking for $403.1 million in revenue and $0.14 in earnings per share. Investors reacted negatively to the report and drove the stock lower, currently trading at $13.82 per share, down by 7.6% for the year.
At the end of the first quarter, 24 of the funds followed by Insider Monkey had Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) in their equity portfolios, up from 23 registered three months earlier. Their combined holdings accounted for 27.1% of the company’s outstanding stock. David Cohen and Harold Levy‘s Iridian Asset Management held the largest position among the funds we follow: 14.4 million shares, down 8% for the quarter. Glenn J. Krevlin’s Glenhill Advisors held 10.5 million shares at the end of March, up 14% from the end of December.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Blue Harbour Group | 0 | 9,309,695 | 0 | 9,309,695 | 9,309,695 | 4.99% |
| Blue Harbour Holdings | 0 | 9,309,695 | 0 | 9,309,695 | 9,309,695 | 4.99% |
| Clifton S. Robbins | 0 | 9,309,695 | 0 | 9,309,695 | 9,309,695 | 4.99% |
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Page 1 of 7 – SEC Filing
| SECURITIES AND EXCHANGE COMMISSION | |
| Washington, D.C. 20549 | |
| SCHEDULE 13D/A | |
| Under the Securities Exchange Act of 1934 | |
| (Amendment No. 1)* | |
| Allscripts | |
| (Name of Issuer) | |
| Common Stock, | |
| (Title of Class of Securities) | |
| 01988P108 | |
| (CUSIP Number) | |
| Todd Marcy Blue Harbour Group, LP 646 Steamboat Road Greenwich, Connecticut 06830 (203) 422-6540 with a copy to: Marc Weingarten, Esq. Eleazer Klein, Esq. Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022 (212) 756-2000 | |
| (Name, Address and Telephone Number of Person | |
| Authorized to Receive Notices and Communications) | |
| August 5, | |
| (Date of Event Which Requires Filing of This Statement) | |
If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
Rule 13d-1(f) or Rule 13d-1(g), check the following box. [ ]
(Page 1 of 7 Pages)
______________________________
* The remainder of this cover page shall be filled out for a reporting
person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
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Page 2 of 7 – SEC Filing
| 1 | NAME OF REPORTING PERSON Blue Harbour Group, LP | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ¨ (b) x | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS WC | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | ¨ | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 7 | SOLE VOTING POWER 0 | ||
| 8 | SHARED VOTING POWER 9,309,695 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER 0 | |||
| 10 | SHARED DISPOSITIVE POWER 9,309,695 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 9,309,695 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ¨ | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.99% | |||
| 14 | TYPE OF REPORTING PERSON PN; IA | |||
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Page 3 of 7 – SEC Filing
| 1 | NAME OF REPORTING PERSON Blue Harbour Holdings, LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ¨ (b) x | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS AF | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | ¨ | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 7 | SOLE VOTING POWER 0 | ||
| 8 | SHARED VOTING POWER 9,309,695 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER 0 | |||
| 10 | SHARED DISPOSITIVE POWER 9,309,695 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 9,309,695 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ¨ | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.99% | |||
| 14 | TYPE OF REPORTING PERSON OO | |||
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Page 4 of 7 – SEC Filing
| 1 | NAME OF REPORTING PERSON Clifton S. Robbins | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ¨ (b) x | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS AF | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | ¨ | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION United States of America | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 7 | SOLE VOTING POWER 0 | ||
| 8 | SHARED VOTING POWER 9,309,695 shares of Common Stock | |||
| 9 | SOLE DISPOSITIVE POWER 0 | |||
| 10 | SHARED DISPOSITIVE POWER 9,309,695 shares of Common Stock | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 9,309,695 shares of Common Stock | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ¨ | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.99% | |||
| 14 | TYPE OF REPORTING PERSON IN | |||
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Page 5 of 7 – SEC Filing
This Amendment No. 1 (“Amendment No. 1”) amends and
supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on October
10, 2014 (together with this Amendment No. 1, the “Schedule 13D”) with respect to the common stock, $0.01 par value
(the “Common Stock”), of Allscripts Healthcare Solutions, Inc., a Delaware corporation (the “Issuer”).
Capitalized terms used herein and not otherwise defined in this Amendment No. 1 have the meanings set forth in the Schedule 13D.
This Amendment No. 1 amends Items 3 and 5 as set forth below. This Amendment No. 1 constitutes an “exit filing” with
respect to the Reporting Persons.
| Item 3. | SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION |
| The first sentence of Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows: | |
| The Reporting Persons used approximately $117,372,551 (excluding brokerage commissions) in the aggregate to purchase the shares of Common Stock reported in this Schedule 13D. | |
| Item 5. | INTEREST IN SECURITIES OF THE ISSUER |
| Paragraphs (a) – (c) and (e) of Item 5 of the Schedule 13D are hereby amended and restated in their entirety as follows: | |
| (a) – (b) The responses of the Reporting Persons to Rows (7) through (13) For purposes of disclosing the number of shares of Common Stock (c) Information concerning transactions in the Common Stock effected (e) August 8, 2016. | |
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Page 6 of 7 – SEC Filing
SIGNATURES
After reasonable inquiry and to the best
of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: August 8, 2016
| BLUE HARBOUR GROUP, LP | ||
| By: Blue Harbour Holdings, LLC, its general partner | ||
| By: | /s/ Clifton S. Robbins | |
| Name: Clifton S. Robbins | ||
| Title: Managing Member | ||
| blue harbour holdings,
| ||
| By: | /s/ Clifton S. Robbins | |
| Name: Clifton S. Robbins | ||
| Title: Managing Member | ||
| By: | /s/ Clifton S. Robbins | |
| Clifton S. Robbins | ||
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Page 7 of 7 – SEC Filing
Schedule I
TRANSACTIONS IN COMMON STOCK BY THE REPORTING
PERSONS
The following tables set forth all transactions
in the Common Stock effected by each of the Reporting Persons in the past sixty days.
Manager
| Trade Date | Shares Purchased (Sold) | Price Per Share ($) |
| 6/24/16 | 75,000 | 12.24 |
| 6/27/16 | 80,000 | 11.88 |
| 6/27/16 | 97,000 | 11.92 |
| 6/27/16 | 75,000 | 11.72 |
| 6/27/16 | 75,000 | 12.05 |
| 6/27/16 | 50,000 | 12.04 |
| 6/27/16 | 48,000 | 11.95 |
| 7/15/16 | (30,800) | 14.00 |
| 7/18/16 | (23,100) | 14.00 |
| 7/19/16 | (2,726) | 14.00 |
| 7/20/16 | (311,109) | 14.00 |
| 7/20/16 | (17,058) | 14.01 |
| 7/21/16 | (15,600) | 14.00 |
| 7/26/16 | (26,491) | 14.01 |
| 7/26/16 | (63,116) | 14.09 |
| 8/5/16 | (30,000) | 14.69 |
| 8/5/16 | (60,000) | 14.38 |
| 8/5/16 | (100,000) | 14.32 |
| 8/5/16 | (115,000) | 14.88 |
| 8/5/16 | (100,000) | 14.17 |
| 8/5/16 | (100,000) | 14.08 |
| 8/5/16 | (130,000) | 14.91 |
| 8/5/16 | (150,000) | 14.76 |
| 8/5/16 | (300,000) | 14.92 |
| 8/8/16 | (40,000) | 13.88 |
| 8/8/16 | (110,000) | 13.91 |
| 8/8/16 | (125,000) | 13.93 |
| 8/8/16 | (100,000) | 13.94 |
