UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

SCHEDULE 13D 

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED 

PURSUANT TO § 240.13d-2(a)

Names of Reporting Persons.

Discovery Equity Partners, L.P.

Source of Funds (See Instructions)

WC

Citizenship or Place of Organization

Illinois

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

Sole Voting Power

None.

Shared Voting Power

2,101,926

Sole Dispositive Power

None.

Shared Dispositive Power

2,101,926

Aggregate Amount Beneficially Owned by Each Reporting Person

2,101,926

Percent of Class Represented by Amount in Row (11)

8.1%

Type of Reporting Person (See Instructions)

PN

Names of Reporting Persons.

Discovery Group I, LLC

Source of Funds (See Instructions)

AF

Citizenship or Place of Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

Sole Voting Power

None.

Shared Voting Power

2,101,926

Sole Dispositive Power

None.

Shared Dispositive Power

2,101,926

Aggregate Amount Beneficially Owned by Each Reporting Person

2,101,926

Percent of Class Represented by Amount in Row (11)

8.1%

Type of Reporting Person (See Instructions)

IA

Names of Reporting Persons.

Daniel J. Donoghue

Source of Funds (See Instructions)

AF

Citizenship or Place of Organization

United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

Sole Voting Power

None.

Shared Voting Power

2,101,926

Sole Dispositive Power

None.

Shared Dispositive Power

2,101,926

Aggregate Amount Beneficially Owned by Each Reporting Person

2,101,926

Percent of Class Represented by Amount in Row (11)

8.1%

Type of Reporting Person (See Instructions)

IN

Names of Reporting Persons.

Michael R. Murphy

Source of Funds (See Instructions)

AF

Citizenship or Place of Organization

United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

Sole Voting Power

None.

Shared Voting Power

2,101,926

Sole Dispositive Power

None.

Shared Dispositive Power

2,101,926

Aggregate Amount Beneficially Owned by Each Reporting Person

2,101,926

Percent of Class Represented by Amount in Row (11)

8.1%

Type of Reporting Person (See Instructions)

IN

This statement is being jointly filed by the following persons (the “Reporting Persons”):

Discovery Equity Partners, L.P. (“Discovery Equity Partners”) is an Illinois limited partnership primarily engaged in the business of investing in securities.

Discovery Group I, LLC (“Discovery Group”) is a Delaware limited liability company and a registered investment adviser under the Investment Advisers Act of 1940, as amended, that is primarily engaged in the business of investing in securities on behalf of institutional clients.

Daniel J. Donoghue is a Managing Member of Discovery Group and of various related entities, which is his principal occupation.

Michael R. Murphy is a Managing Member of Discovery Group and of various related entities, which is his principal occupation.

Both Mr. Donoghue and Mr. Murphy are United States citizens.

The business address of each of the Reporting Persons is 300 South Wacker Drive, Suite 600, Chicago, Illinois 60606.

The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners.  The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect the potential value of the Company’s underlying business and assets.

The Reporting Persons intend to review and evaluate their investment in the Common Stock on an ongoing basis and may, depending upon their evaluation of the business and prospects of the Company, or such other considerations as they may deem relevant, determine to increase, decrease, or dispose of their holdings of Common Stock.  As a part of such review and evaluation, the Reporting Persons may hold discussions with the Company’s management and directors, other shareholders and other interested parties.

Except as otherwise described in this Item 4, the Reporting Persons do not have present plans or proposals that relate to or would result in any of the following (although the Reporting Persons reserve the right to develop such plans or proposals or any other plans relating to the Company and to take action with respect thereto):  (i) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (ii) an extraordinary corporate transaction, such as a merger, reorganization, or liquidation, involving the Company or any of its subsidiaries; (iii) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (iv) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (v) any material change in the present capitalization or dividend policy of the Company; (vi) any other material change in the Company’s business or corporate structure; (vii) changes in the Company’s certificate of incorporation, bylaws, or instruments corresponding thereto or other actions that may impede the acquisition of control of the Company by any person; (viii) causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (ix) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (x) any action similar to any of those enumerated above.

The information concerning percentages of ownership set forth below is based on 26,048,345 shares of Common Stock outstanding as of April 30, 2015 in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015.

Discovery Equity Partners beneficially owns 2,101,926 shares of Common Stock as of July 1, 2015, which represents 8.1% of the outstanding Common Stock.

Discovery Group beneficially owns 2,101,926 shares of Common Stock as of July 1, 2015, which represents 8.1% of the outstanding Common Stock.

Mr. Donoghue beneficially owns 2,101,926 shares of Common Stock as of July 1, 2015, which represents 8.1% of the outstanding Common Stock.

Mr. Murphy beneficially owns 2,101,926 shares of Common Stock as of July 1, 2015, which represents 8.1% of the outstanding Common Stock.

Discovery Group is the sole general partner of Discovery Equity Partners.  Messrs. Donoghue and Murphy are the sole managing members of Discovery Group.  As a consequence, Discovery Group and Messrs. Donoghue and Murphy may be deemed to share beneficial ownership of all of the shares of Common Stock owned by Discovery Equity Partners.

The transactions in Common Stock effected by the Reporting Persons during the past 60 days are set out in Exhibit 1 hereto.

No person other than Discovery Equity Partners is known to any Reporting Person to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the shares of Common Stock reported herein.

Date

DISCOVERY GROUP I, LLC,

for itself and as general partner of

DISCOVERY EQUITY PARTNERS, L.P.

By:  Michael R. Murphy*

Michael R. Murphy, Managing Member

Daniel J. Donoghue

Michael R. Murphy

              Mark Buckley

Attorney-in-Fact for Daniel J. Donoghue

Attorney-in-Fact for Michael R. Murphy

Joint Filing Agreement dated as of July 2, 2015, by and among Discovery Equity Partners; Discovery Group; Daniel J. Donoghue; and Michael R. Murphy.