0001540796-14-000007.txt : 20140213 0001540796-14-000007.hdr.sgml : 20140213 20140213173039 ACCESSION NUMBER: 0001540796-14-000007 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140213 DATE AS OF CHANGE: 20140213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ITT EDUCATIONAL SERVICES INC CENTRAL INDEX KEY: 0000922475 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 362061311 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-44209 FILM NUMBER: 14608111 BUSINESS ADDRESS: STREET 1: 13000 NORTH MERIDIAN CITY: CARMEL STATE: IN ZIP: 46032-1404 BUSINESS PHONE: 317 706 9200 MAIL ADDRESS: STREET 1: 13000 NORTH MERIDIAN STREET STREET 2: - CITY: CARMEL STATE: IN ZIP: 46032-1404 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CLIFTON PARK CAPITAL MANAGEMENT, LLC CENTRAL INDEX KEY: 0001540796 IRS NUMBER: 453122370 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 2711 CENTERVILLE ROAD STREET 2: SUITE 400 CITY: WILMINGTON STATE: DE ZIP: 19808-1645 BUSINESS PHONE: 302-351-3345 MAIL ADDRESS: STREET 1: 2711 CENTERVILLE ROAD STREET 2: SUITE 400 CITY: WILMINGTON STATE: DE ZIP: 19808-1645 SC 13G 1 ESI_CPCM_13G_2013.txt DATA FOR 13G UNITED STATES SECURITIES & EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* ITT Educational Services, Inc. -------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------- (Title of Class of Securities) 45068B109 -------------------------------------------------------------------------- (CUSIP Number) December 31, 2013 -------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) (Page 1 of 6 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 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 purposes 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). CUSIP No. 45068B109 13G Page 2 of 6 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Clifton Park Capital Management, LLC I.R.S. IDENTIFICATION NO. 45-3122370 OF ABOVE PERSONS (ENTITIES ONLY) ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER -0- SHARES ---------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 1,594,266 OWNED BY ---------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ---------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 1,594,266 ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,594,266 ------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.8% ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON ** CO ------------------------------------------------------------------------------- ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 45068B109 13G Page 3 of 6 Pages Item 1(a). Name of Issuer: ITT Educational Services, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 1300 North Meridian Street, Carmel, Indiana 46032-1404 Item 2(a). Name of Person Filing: Clifton Park Capital Management, LLC Item 2(b). Address of Principal Business Office or, if None, Residence: 2711 Centerville Road, Suite 400 Wilmington, Delaware 19808-1645 Item 2(c). Citizenship: Delaware Item 2(d). Title of Class of Securities: Common Stock Item 2(e). CUSIP Number: 45068B109 CUSIP No. 45068B109 13G Page 4 of 6 Pages Item 3. If this statement is filed pursuant to Rules 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 Act, (b) [ ] Bank as defined in Section 3(a)(6) of the Act, (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act, (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940, (e) [ ] Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E), (f) [ ] Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F), (g) [ ] Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G), (h) [ ] Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) [ ] Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940, (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check the box. [X] Item 4. Ownership. (a) Amount beneficially owned: 1,594,266 (b) Percent of class: 6.8 (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: None (ii) Shared power to vote or direct the vote: 1,594,266 (iii) Sole power to dispose or direct the disposition: None (iv) Shared power to dispose or direct the disposition: 1,594,266 CUSIP No. 45068B109 13G Page 5 of 6 Pages Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certification. CUSIP No. 45068B109 13G Page 6 of 6 Pages SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. DATED: February 13, 2014 Clifton Park Capital Management, LLC By: /s/ Don Clouse ----------------------------------------------- Don Clouse Authorized Signatory