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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Recurring $ 151,885 $ 117,914
Implementation and other 2,031 1,594
Total revenues 153,916 119,508
Cost of revenues    
Operating expenses 20,568 15,086
Depreciation and amortization 3,037 2,060
Total cost of revenues 23,605 17,146
Administrative expenses    
Sales and marketing 32,352 25,579
Research and development 11,250 6,797
General and administrative 32,657 15,250
Depreciation and amortization 3,032 2,226
Total administrative expenses 79,291 49,852
Total operating expenses 102,896 66,998
Operating income 51,020 52,510
Interest expense   (257)
Other income (expense), net 1,030 95
Income before income taxes 52,050 52,348
Provision for income taxes 10,890 18,654
Net income $ 41,160 $ 33,694
Earnings per share, basic $ 0.71 $ 0.58
Earnings per share, diluted $ 0.70 $ 0.57
Weighted average shares outstanding:    
Basic 57,793,023 57,307,187
Diluted 58,738,732 58,525,980