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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 107,845 $ 106,625
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,993 4,519
Net foreign currency (gains) losses (2,020) 1,421
Stock-based compensation 14,307 12,313
Deferred income taxes 1,169 695
Provision for bad debts 225 174
Tax benefits from stock-based compensation 2,344 1,878
Excess tax benefits from stock-based compensation (2,344) (1,878)
Other non-cash operating activities 430 257
Changes in assets and liabilities, excluding initial effects of acquisitions:    
Accounts receivable (14,944) 8,513
Prepaid expenses, prepaid income taxes, and other assets 3,648 3,446
Accounts payable, accrued expenses, income taxes payable and other liabilities 6,947 (5,583)
Deferred revenue (13,562) (23,485)
Net cash provided by operating activities 109,038 108,895
Cash flows from investing activities:    
Purchases of marketable securities (683,748) 0
Maturities of marketable securities 669,216 52,965
Purchases of property, equipment and leasehold improvements (2,151) (2,530)
Acquisition related deposits 0 (255,067)
Payments for business acquisitions, net of cash acquired (36,171) 0
Payments for capitalized computer software costs (126) 0
Net cash used in investing activities (52,980) (204,632)
Cash flows from financing activities:    
Exercises of stock options 7,892 2,862
Repurchases of common stock (295,642) (103,128)
Payments of tax withholding obligations related to restricted stock (4,346) (3,404)
Excess tax benefits from stock-based compensation 2,344 1,878
Proceeds from credit agreement 0 140,000
Payments of credit agreement issuance costs 0 (1,587)
Net cash (used in) provided by financing activities (289,752) 36,621
Effect of exchange rate changes on cash and cash equivalents (90) (223)
Decrease in cash and cash equivalents (233,784) (59,339)
Cash and cash equivalents, beginning of period 318,336 156,249
Cash and cash equivalents, end of period 84,552 96,910
Supplemental disclosure of cash flow information:    
Income taxes paid, net 41,742 51,612
Interest paid 2,499 344
Supplemental disclosure of non-cash investing and financing activities:    
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses 111 (874)
Change in common stock repurchases included in accrued expenses $ 4,358 $ 1,938