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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of accumulated other comprehensive loss
The components of accumulated other comprehensive loss were as follows (in thousands):
 June 30,
2020		December 31,
2019
Foreign currency translation adjustment$(19,941) $(7,855) 
Net unrealized loss on investments, net of tax—  (730) 
Total accumulated other comprehensive loss
$(19,941) $(8,585) 
Calculation of basic and diluted net income (loss) per share
The following table sets forth the calculation of basic and diluted net income per share (in thousands, except per share data):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 
Numerator:
2020201920202019
 
Net income
$60,360  $63,248  $133,153  $148,417  
Denominator:    
Denominator for basic net income per share — weighted-average outstanding shares
37,524  36,310  36,998  36,273  
Effect of dilutive securities:    
Stock options, restricted stock awards and restricted stock units
210  317  258  324  
Denominator for diluted net income per share — weighted-average outstanding shares
37,734  36,627  37,256  36,597  
     
Net income per share — basic $1.61  $1.74  $3.60  $4.09  
Net income per share — diluted $1.60  $1.73  $3.57  $4.06  
Schedule of anti-dilutive securities excluded from computation of earnings per share
The following table summarizes the shares underlying the unvested performance-based restricted stock and anti-dilutive securities excluded from the basic and diluted earnings per share calculations (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2020201920202019
Performance-based restricted stock awards79  90  79  90  
Anti-dilutive securities70  99  83  120  
Stock-based compensation expense for stock options and restricted stock
Stock-based compensation expense for stock options, restricted stock awards and restricted stock units issued under equity incentive plans, stock purchases under the Employee Stock Purchase Plan, Deferred Stock Units (“DSUs”) and Matching RSUs awarded under the Company's Management Stock Purchase Plan included in the Company’s results of operations were as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
 2020201920202019
Cost of revenues$2,530  $2,560  $5,002  $4,618  
Selling and marketing (excluding customer base amortization)1,770  1,765  3,794  3,404  
Software development2,287  2,339  4,815  4,395  
General and administrative2,940  7,152  11,096  13,428  
Total stock-based compensation expense (1)
$9,527  $13,816  $24,707  $25,845  
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(1) Includes $0.7 million of expense related to the cash settlement of stock options in connection with the acquisition of Ten-X Holding Company, Inc. See Note 5 for details of the acquisition.