The simple answer is…I don’t think so. But in a review on Hewitt’s recent SEC filings, I stumbled upon a Schedule 13G from none other than FMR (AKA Fidelity Investments) that stated the purchase of approximately 5.5% of the company. For those of you unfamiliar with what a Schedule 13G is, here is a brief description…
"…This SEC document is filed by holders of 5% or more of any class of a company’s shares outstanding. When a person or entity first reaches the 5% ownership level, a 13D must be filed within 10 days. Importantly, the intention of the investment must also be stated on the form. Subsequent trades must be promptly stated on an amended 13D.
Schedule 13Ds used to be some of the most monitored SEC documents around. In the midst of the mergermania of the 1980s, a 13D was often the first indication that a company was being taken over. Raiding firms would discreetly acquire 4.9% of their targets’ shares, before pouncing across the 5% ownership barrier that required a 13D to be filed. Cover blown, the large investor declared its intention to take over the company whether management went along or not. A fight for the remaining shares often ensued, and professional arbitrageurs bet heavily on the outcome."
My humble opinion…Fidelity is not a "corporate raider" and is more interested in acquiring a small stake in a devalued asset.