SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE l3D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
NEW ENGLAND BUSINESS SERVICE, INC.
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(Name of Issuer)
Common Stock ($1.00 par value)
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(Title of Class of Securities)
643872104
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(CUSIP Number)
with a copy to:
Ms. Stephney Costello George J. Mazin, Esq.
Palisade Capital Management, L.L.C. Lowenstein Sandler PC
One Bridge Plaza 65 Livingston Avenue
Fort Lee, New Jersey 07024 Roseland, New Jersey 07068
(201) 585-7733 (973) 597-2418
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
March 23, 2000
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule l3G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7(b) for
other parties to whom copies are to be sent.
*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).
<PAGE>
CUSIP No. 643872104
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1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(entities only):
Palisade Capital Management, L.L.C./I.R.S. Identification No. 22-3330049
________________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions):
(a) Not
(b) Applicable
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3) SEC Use Only
________________________________________________________________________________
4) Source of Funds (See Instructions): OO
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e):
Not Applicable
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6) Citizenship or Place of Organization: New Jersey
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Number of 7) Sole Voting Power: 583,249*
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Shares Beneficially 8) Shared Voting Power: 0
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Owned by
Each Reporting 9) Sole Dispositive Power: 670,949*
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Person With 10) Shared Dispositive Power: 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 670,949*
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
Not Applicable
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13) Percent of Class Represented by Amount in Row (11): 5.0%*
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14) Type of Reporting Person (See Instructions): IA
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* Palisade Capital Management, L.L.C. ("Palisade") is a registered investment
advisor which has discretionary authority over the accounts of its clients.
Palisade is the beneficial owner of 670,949 shares or 5.0% of New England
Business Service, Inc. (the "Company') common stock, par value $1.00 per share
(the "Common Stock"), on behalf of its clients. No one such client account
contains more than five percent of the Common Stock. Palisade has sole power to
direct the disposition of 670,949 shares of the Common Stock. While Palisade has
sole power to vote 583,249 shares of the Common Stock, some of its clients
maintain the sole power to vote, in the aggregate, 87,700 shares of the Common
Stock held in their respective Palisade accounts.
<PAGE>
Item 5. Interest in Securities of the Issuer.
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Based upon information set forth in the Company's Quarterly Report on
Form 10-Q for the quarterly period ended December 25, 1999, as of February 4,
2000 there were outstanding 13,530,595 shares of the Common Stock. As of March
23, 2000, 670,949 shares (5.0%) of the Common Stock are owned by Palisade on
behalf of its clients in accounts over which Palisade has investment discretion.
Palisade possesses sole power to direct the disposition of all shares of the
Common Stock beneficially owned by it. Palisade also possesses sole power to
vote all but 87,700 shares of the Common Stock beneficially owned by it. The
power to vote such 87,700 shares is reserved by various clients for whom
Palisade maintains investment accounts.
The following table details the transactions during the past sixty
days, each of which was effected in an ordinary brokerage transaction, in the
Common Stock by Palisade or any other person or entity controlled by Palisade or
any person or entity for which Palisade possesses voting or investment control
over the securities thereof:
(Purchases)
NONE
(Sales)
Date Quantity Price
---- -------- -----
February 16, 2000 50,000 $20.00
March 7, 2000 10,000 $18.00
March 8, 2000 1,500 $17.69
March 9, 2000 10,000 $17.50
March 10, 2000 1,300 $17.53
March 14, 2000 1,900 $16.19
March 16, 2000 25,300 $17.38
March 17, 2000 92,900 $17.34
March 20, 2000 6,100 $16.75
March 21, 2000 23,900 $16.39
March 23, 2000 20,000 $16.81
Additionally, on February 18, 2000, a client of Palisade whose account
held 3,700 shares of the Common Stock (the "Terminated Shares") terminated its
relationship with Palisade so that Palisade no longer possessed any voting
and/or dispositive control over the Terminated Shares. Accordingly, for the
purposes of Regulation Section 240.13d-3, Palisades is no longer the beneficial
owner of the Terminated Shares.
No other person is known by Palisade to have the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the sale
of, the Common Stock beneficially owned by Palisade. On March 23, 2000, Palisade
ceased to be the beneficial owner of more than 5% of the Common Stock
outstanding.
<PAGE>
Signature
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned hereby certifies that the information set
forth in this statement is true, complete and correct.
April 26, 2000
/s/Steven E. Berman
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Steven E. Berman, in his capacity as
a member of Palisade Capital
Management, L.L.C.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).
