SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. _________)*
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
|X| Rule 13d-1(b)
|_| Rule 13d-1(c)
|_| Rule 13d-1(d)
* 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 the disclosures provided in a prior cover page.
The information required in 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 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).
CUSIP No. 205306103 13G Page 2 of___ Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Palisade Capital Management, L.L.C.
22-3330049
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
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NUMBER OF 5. SOLE VOTING POWER
SHARES 581,000
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY N/A
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING 581,000
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PERSON 8. SHARED DISPOSITIVE POWER
WITH N/A
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
762,290
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A |_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.27%
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12. TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 205306103 13G Page 3 of___ Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Axe-Houghton Associates, Inc.
22-2512992
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 181,290
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY N/A
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING 181,290
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PERSON 8. SHARED DISPOSITIVE POWER
WITH N/A
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
762,290
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.27%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 205306103 13G Page __ of __ Pages
Item 1(a). Name of Issuer:
Computer Programs & Systems, Inc.
____________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
6600 Wall Street,
Mobile, AL 36695.
____________________________________________________________________
Item 2(a). Name of Person Filing:
Palisade Capital Management, L.L.C.
____________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
One Bridge Plaza, Suite 695,
Fort Lee, NJ 07024
____________________________________________________________________
Item 2(c). Citizenship:
New Jersey
____________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock ($0.001 par value)
____________________________________________________________________
Item 2(e). CUSIP Number:
205306103
____________________________________________________________________
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) |_| Broker or dealer registered under Section 15 of the Exchange Act.
(b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) |_| Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) |_| Investment company registered under Section 8 of the Investment
Company Act.
(e) |X| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) |_| A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
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CUSIP No.__________ 13G Page __ of __ Pages
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
762,290
______________________________________________________________________
(b) Percent of class:
7.27%
______________________________________________________________________
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 762,290
(ii) Shared power to vote or to direct the vote N/A
(iii) Sole power to dispose or to direct the disposition of 762,290
(iv) Shared power to dispose or to direct the disposition of N/A
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [ ].
N/A
_______________________________________________________________________
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
The shares of the Issuer beneficially owned by each reporting person are
held on behalf of the reporting persons' clients in accounts over which the
reporting persons have complete investment discretion. No other person has the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, such shares. No client account contains more than
five percent of the class.
_______________________________________________________________________
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
N/A
_______________________________________________________________________
Item 8. Identification and Classification of Members of the Group.
Palisade Capital Management, LLC ("Palisade"), and Axe-Houghton
Associates, Inc. ("Axe"), are registered investment advisers. They are control
affiliates. Palisade and Axe are making this joint filing pursuant to Agreement
attached as Exhibit 1, but disclaim that they are members of a Group pursuant to
Rule 13d-5(b) .
_______________________________________________________________________
Item 9. Notice of Dissolution of Group.
N/A
_______________________________________________________________________
Item 10. Certifications.
The following certification shall be included if the statement is filed pursuant
to Rule 13d-1(b):
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and were not acquired and not held for the purpose of or with the
effect of changing or influencing the control of the issuer of the securities
and were not acquired and are not held in connection with or as a participant in
any transaction having such purpose or effect.
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SIGNATURE
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.
Palisade Capital Management, LLC
/s/ Steven E. Berman ---------------------------------------- Steven E. Berman, Member |
Axe-Houghton Associates, Inc.
/s/ Steven e. Berman ---------------------------------------- Steven E. Berman, President |
Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).
Exhibit 1
Joint Filing Agreement Pursuant to Rule 13d-1
This agreement is made pursuant to Rule 13d-1(b)(ii)(J) and Rule 13d-1(k)(1) under the Securities Exchange Act of 1934 (the "Act") by and among the parties listed below, each referred to herein as a "Joint Filer." The Joint Filers agree that a statement of beneficial ownership as required by the Act and the Rules thereunder may be filed on each of their behalf on Schedule 13G or Schedule 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1.
Dated: February 12 , 2003
Palisade Capital Management, LLC.
By: /s/ Steven E. Berman
-----------------------------
Name: Steven E. Berman
Title: Member
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Axe-Houghton Associates, Inc.
By: /s/ Steven E. Berman
-----------------------------
Name: Steven E. Berman
Title: President
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