Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of weighted average assumptions

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:

	Nine Months Ended March 31,
	2020		2019
Risk-free interest rate	1.5	%	2.8	%
Expected dividend yield	0.0	%	0.0	%
Expected life (in years)	4.5		4.6
Expected volatility factor	26.8	%	26.6	%

Schedule of stock-based compensation expense

The stock-based compensation expense under all equity plans and its classification in the unaudited consolidated statements of operations for the three and nine months ended March 31, 2020 and 2019 are as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2020		2019		2020		2019
	(Dollars in Thousands)
Recorded as expenses:
Cost of maintenance	$	343	$	379	$	1,104	$	916
Cost of services and other	450		366		1,477		1,038
Selling and marketing	1,472		1,228		4,228		3,687
Research and development	2,082		1,518		6,193		5,451
General and administrative	2,952		2,763		11,131		10,362
Total stock-based compensation	$	7,299	$	6,254	$	24,133	$	21,454

Schedule of stock option and RSU activity

A summary of stock option and restricted stock unit ("RSU") activity under all equity plans for the nine months ended March 31, 2020 is as follows:

	Stock Options							Restricted Stock Units
	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in 000’s)		Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2019	1,304,017		$	60.33	6.94	$	83,388	793,718		$	98.38
Granted	297,504		133.05					266,237		133.39
Settled (RSUs)	—							(204,114	)	85.16
Exercised	(84,571	)	53.06					—
Cancelled / Forfeited	(30,851	)	99.18					(83,951	)	112.68
Outstanding at March 31, 2020	1,486,099		$	74.50	6.80	$	46,116	771,890		$	112.39
Vested and exercisable at March 31, 2020	980,407		$	56.76	5.87	$	41,571	—
Vested and expected to vest as of March 31, 2020	1,429,077		$	73.10	6.73	$	45,612	726,960		$	112.46