Stock-Based Compensation (Tables)

6 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of weighted average assumptions

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

	Six Months Ended December 31,
	2019		2018
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 six months ended December 31, 2019 and 2018 are as follows:

	Three Months Ended December 31,				Six Months Ended December 31,
	2019		2018		2019		2018
	(Dollars in Thousands)
Recorded as expenses:
Cost of maintenance	$	362	$	391	$	761	$	537
Cost of services and other	484		288		1,027		606
Selling and marketing	1,209		1,194		2,756		2,526
Research and development	2,009		1,637		4,111		3,932
General and administrative	3,495		2,825		8,179		7,599
Total stock-based compensation	$	7,559	$	6,335	$	16,834	$	15,200

Schedule of stock option and RSU activity

A summary of stock option and restricted stock unit ("RSU") activity under all equity plans for the six months ended December 31, 2019 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	294,940		133.05					249,501		133.06
Settled (RSUs)	—							(145,832	)	86.98
Exercised	(42,486	)	50.38					—
Cancelled / Forfeited	(13,425	)	89.31					(70,539	)	100.05
Outstanding at December 31, 2019	1,543,046		$	74.25	7.04	$	75,567	826,848		$	109.98
Vested and exercisable at December 31, 2019	954,134		$	54.84	5.99	$	63,539	—
Vested and expected to vest as of December 31, 2019	1,477,252		$	72.83	6.96	$	74,227	775,531		$	110.14