Page 1 of 9 Pages
United States
Securities and Exchange Commission
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. __________) *
HealthPlan Services Corporation
-------------------------------
(Name of Issuer)
Common Stock
------------
(Title of Class of Securities)
421959107
---------
(CUSIP Number)
John D. Race, DePrince, Race & Zollo, Inc.
201 S. Orange Ave., Suite 850
Orlando, FL 32801
407-420-9903
------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices & Communications)
October 26, 2000
(Date of Event which requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule G to report
the acquisition which is the subject of this Section 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 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting persons'
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. 421959107 Schedule 13D
Page 2 of 9 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DePrince, Race & Zollo, Inc. 59-3299598
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO - Funds of Investment Advisory Clients
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(C) OR 2(E) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in the State of Florida
------------------------------ -------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES None
BENEFICIALLY -------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 4,580,100
REPORTING -------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH None
------------------------------ -------------------------------------------------
10. SHARED DISPOSITIVE POWER
4,580,100
------------------------------ -------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,580,100
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(see instructions)
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.49%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
<PAGE>
CUSIP No. 421959107 Schedule 13D (continued)
Page 3 of 9 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gregory M. DePrince
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO, PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(C) OR 2(E) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 31,300
BENEFICIALLY -------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 4,580,100
REPORTING -------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 31,300
-------------------------------------------------
10. SHARED DISPOSITIVE POWER
4,580,100
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,611,400
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.72%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
<PAGE>
CUSIP No. 421959107 Schedule 13D (continued)
Page 4 of 9 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John D. Race
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO, PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(C) OR 2(E) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
------------------------------ -------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 167,700
BENEFICIALLY -------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 4,580,100
REPORTING -------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 167,700
-------------------------------------------------
10. SHARED DISPOSITIVE POWER
4,580,100
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,747,800
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.72%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
<PAGE>
CUSIP No. 421959107 Schedule 13D (continued)
Page 5 of 9 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Victor A. Zollo, Jr.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO, PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(C) OR 2(E) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 66,580
BENEFICIALLY -------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 4,580,100
REPORTING -------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 66,580
-------------------------------------------------
10. SHARED DISPOSITIVE POWER
4,580,100
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,646,680
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.98%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 6 of 9
Item 1. Security and Issuer
(a) Name of Issuer:
HealthPlan Services Corporation
(b) Address of Issuer's Principal Executive Offices:
3501 Frontage Road
Tampa, FL 33607
(c) Title and Class of Securities:
Common Stock
Item 2. Identity and Background
(a) Name:
DePrince, Race & Zollo, Inc. ("DRZ")
Gregory M. DePrince
John D. Race
Victor A. Zollo, Jr.
(b) Business Address:
201 South Orange Ave., Suite 850
Orlando, FL 32801
(c) Present Principal Employment:
DRZ: Registered Investment adviser
Gregory M. DePrince: Executive Vice President of DRZ
John D. Race: Executive Vice President of DRZ
Victor A. Zollo, Jr.: President of DRZ
201 South Orange Ave.
Suite 850
Orlando, FL 32801
(d) Record of Convictions:
During the last five years, Filing Persons were not convicted
in a criminal proceeding (excluding traffic violations or
similar misdemeanors.)
(e) Record of Civil Proceedings:
During the last five years, Filing Persons were not a party to
a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was
or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating such
activities subject to, federal or state securities laws or
finding any violation with respect to such laws.
(f) Citizenship:
DRZ is a Florida corporation. Gregory M. DePrince, John D.
Race, and Victor A. Zollo, Jr. are citizens of the United
States.
<PAGE>
Page 7 of 9
Item 3. Source and Amount of Funds or Other Consideration
Gregory M. DePrince ,Victor A. Zollo, Jr. and John D. Race all own
shares of the Issuer in their individual capacity. DRZ directed
the purchase of 4,560,100 shares of the Issuer for its investment
advisory clients for an aggregate purchase price of $40,925,941.
All of the shares were paid for by cash assets in the respective
clients' accounts. In addition, DRZ directed the purchase of
20,000 shares of the Issuer for it Employee Profit Sharing Plan
for an aggregate purchase price of $62,900.
Item 4. Purpose of Transaction.
The securities referred to herein were acquired in the ordinary
course of business and were not acquired for the purpose of and do
not have the effect of changing or influencing the control of the
Issuer of such securities and were not acquired in connection with
or as a participant in any transaction having such purposes of
effect. Filing Persons reserve the right to discuss management and
other proposals with other persons
The foregoing persons in the aggregate often own beneficially more
than 5% of a class of equity securities of a particular issuer.
Although one or more of the foregoing persons are treated as
institutional investors for purposes of reporting their beneficial
ownership on the short-form Schedule 13G, the holdings of those
who do not qualify as institutional investors may exceed the 1%
threshold presented for filing on Schedule 13G or implementation
of their investment philosophy may from time to time require
action which could be viewed as not completely passive. In order
to avoid any question as to whether their beneficial ownership is
being reported on the proper form and in order to provide greater
investment flexibility and administrative uniformity, these
persons have decided to file their beneficial ownership reports on
the more detailed Schedule 13D form rather than on the short-form
Schedule 13G and thereby to provide more expansive disclosure than
is necessary. Effective October 10, 2000 John D. Race is a member
of the Board of Directors of Issuer.
Item 5. Interest in Securities of the Issuer
(a) Amount and percentage beneficially owned:
DRZ: 4,580,100 33.49*
Gregory M. DePrince: 4,611,400 33.72*
John D. Race: 4,747,800 34.72*
Victor A. Zollo, Jr.: 4,646,680 33.98*
* Disclaims beneficial ownership of these shares
(b) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
DRZ: none
Gregory M. DePrince: 31,300
John D. Race: 167,700
Victor A. Zollo, Jr.: 66,580
<PAGE>
Page 8 of 9
(ii) shared power to vote or direct the vote:
DRZ: 4,580,100
Gregory M. DePrince: 4,580,100
John D. Race: 4,580,100
Victor A. Zollo, Jr.: 4,580,100
(iii) sole power to dispose or to direct the disposition:
DRZ: none
Gregory M. DePrince: 31,300
John D. Race: 167,700
Victor A. Zollo, Jr.: 66,580
(iv) shared power to dispose or direct the disposition:
DRZ: 4,580,100
Gregory M. DePrince: 4,580,100
John D. Race: 4,580,100
Victor A. Zollo, Jr.: 4,580,100
Reporting Persons may be deemed to share power to vote and dispose
of shares referred to herein as a result of control relationships
(Gregory M. DePrince, John D. Race and Victor A. Zollo, Jr. with
respect to all of the DRZ shares) and pursuant to investment
advisory relationships with advisory clients. The shares reported
above for sole power are attributable to investments by Gregory M.
DePrince, John D. Race and Victor A. Zollo, Jr. on their own
behalf. Reporting Persons disclaim beneficial ownership of the
shares for which they share power.
(c) A schedule of transactions effected in the last sixty days is
attached hereto.
(d) Ownership of More than Five Percent on Behalf of Another
Person:
The investment advisory clients and Employee Benefit Plan have
the right to receive the dividends from, or the proceeds from
the sale of the securities in their respective accounts. To
the best of Reporting Person's knowledge, other than the
shares reported herein, no person has such interest relating
to more than 5% of the outstanding class of securities.
(e) Ownership of Less than Five Percent:
Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
By virtue of their investment advisory agreements with their
clients, DRZ have been given the discretion to dispose or direct
the disposition of the securities in the advisory accounts. All
such agreements are, however, revocable. All the advisory
agreements are pursuant to a standard form.
Item 7. Material to be Filed as Exhibits
Exhibit A - 60 days of trading.
<PAGE>
Page 9 of 9
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
DePrince Race & Zollo, Inc.
By: /s/ John D. Race
--------------------------------------
John D. Race, Executive Vice President
Gregory M. DePrince, Individually
By: /s/ Gregory M. DePrince
--------------------------------------
Gregory M. DePrince
John D. Race, Individually
By: /s/ John D. Race
--------------------------------------
John D. Race
Victor A. Zollo, Jr., Individually
By: /s/ Victor A. Zollo, Jr.
--------------------------------------
Victor A. Zollo, Jr.
<PAGE>
EXHIBIT A - 60 DAY TRANSACTION SUMMARY
DEPRINCE, RACE & Zollo, INC. TRANSACTION MADE AS INVESTMENT ADVISOR ON BEHALF
OF CLIENTS
From 9-8-00 To 11-09-00
<TABLE>
<CAPTION>
Tran Trade Trade
Code Security Date Quantity Amount
---- ------------------------- -------- ---------------------------
<S> <C> <C> <C> <C>
purchase HEALTHPLAN SVCS CORP COM 9/8/00 9,500 37,162
purchase HEALTHPLAN SVCS CORP COM 9/11/00 9,700 41,110
purchase HEALTHPLAN SVCS CORP COM 9/12/00 10,000 42,641
purchase HEALTHPLAN SVCS CORP COM 9/13/00 20,000 87,837
purchase HEALTHPLAN SVCS CORP COM 9/14/00 100,000 445,091
purchase HEALTHPLAN SVCS CORP COM 9/15/00 20,000 89,395
purchase HEALTHPLAN SVCS CORP COM 9/22/00 10,000 43,875
purchase HEALTHPLAN SVCS CORP COM 9/25/00 7,000 31,256
purchase HEALTHPLAN SVCS CORP COM 9/26/00 4,000 17,200
purchase HEALTHPLAN SVCS CORP COM 9/27/00 8,000 33,795
purchase HEALTHPLAN SVCS CORP COM 9/28/00 36,600 168,187
purchase HEALTHPLAN SVCS CORP COM 9/29/00 39,500 214,585
purchase HEALTHPLAN SVCS CORP COM 10/2/00 28,800 142,556
purchase HEALTHPLAN SVCS CORP COM 10/3/00 30,000 169,946
purchase HEALTHPLAN SVCS CORP COM 10/4/00 20,000 115,781
purchase HEALTHPLAN SVCS CORP COM 10/5/00 10,000 60,196
purchase HEALTHPLAN SVCS CORP COM 10/6/00 20,000 118,469
purchase HEALTHPLAN SVCS CORP COM 10/9/00 26,800 161,068
purchase HEALTHPLAN SVCS CORP COM 10/26/00 160,000 1,084,803
purchase HEALTHPLAN SVCS CORP COM 10/27/00 20,000 141,000
purchase HEALTHPLAN SVCS CORP COM 10/30/00 84,000 597,411
sale HEALTHPLAN SVCS CORP COM 10/30/00 -6,500 45,433
purchase HEALTHPLAN SVCS CORP COM 10/31/00 46,000 343,225
purchase HEALTHPLAN SVCS CORP COM 11/1/00 32,000 253,781
purchase HEALTHPLAN SVCS CORP COM 11/2/00 48,300 384,089
purchase HEALTHPLAN SVCS CORP COM 11/3/00 127,700 1,002,162
purchase HEALTHPLAN SVCS CORP COM 11/9/00 45,000 349,858
</TABLE>
TRANSACTIONS MADE BY JOHN RACE, INDIVIDUALLY
From 9-8-00 To 11-09-00
Tran Trade Trade
Code Security Date Quantity Amount
---- ------------------------- -------- -------- -------
purchase HEALTHPLAN SVCS CORP COM 10/26/00 20,000 136,204
purchase HEALTHPLAN SVCS CORP COM 10/30/00 10,000 68,104
<PAGE>
EXHIBIT A - 60 DAY TRANSACTION SUMMARY
TRANSACTIONS MADE BY GREGORY M. DEPRINCE, INDIVIDUALLY
From 9-8-00 To 10-09-00
Tran Trade Trade
Code Security Date Quantity Amount
---- ------------------------- -------- --------- --------
purchase HEALTHPLAN SVCS CORP COM 10/26/00 16,300 110,693
TRANSACTIONS MADE BY VICTOR A. ZOLLO, JR., INDIVIDUALLY
From 9-8-00 To 11-09-00
Tran Trade Trade
Code Security Date Quantity Amount
---- ------------------------- -------- --------- --------
None
TRANSACTIONS MADE BY DEPRINCE, RACE & ZOLLO, INC. AS PLAN SPONSOR OF EMPLOYEE
BENEFIT PLAN
From 9-8-00 To 11-09-00
Tran Trade Trade
Code Security Date Quantity Amount
---- ------------------------- -------- -------- -------
None
