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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net income $ 19,373 $ 15,556
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 24,832 19,524
Depreciation and amortization expense 18,261 16,801
Deferred income tax benefit (6,500) (4,139)
Provision for doubtful accounts 63 112
Net accretion of discounts and amortization of premiums on available-for-sale securities (1,052) (893)
Amortization of debt issuance costs 73  
Loss on disposal of equipment 250 357
Changes in operating assets and liabilities:    
Accounts receivable (53) (926)
Deferred contract costs (22,434) (14,156)
Prepaid expenses and other 773 635
Accounts payable 261 147
Accrued expenses and other 2,231 1,027
Tenant improvement allowance   251
Net cash provided by operating activities 36,078 34,296
Cash flows from investing activities:    
Purchases of available-for-sale securities and other (253,950) (117,053)
Proceeds from sales and maturities of available-for-sale securities 124,780 88,879
Capitalized internal-use software costs (12,139) (9,425)
Purchases of property and equipment (12,398) (7,532)
Lease allowances used for tenant improvements   (251)
Net cash used in investing activities (153,707) (45,382)
Cash flows from financing activities:    
Net change in client fund obligations 450,825 33,159
Repurchases of common shares   (34,991)
Proceeds from exercise of stock options   85
Proceeds from employee stock purchase plan 3,961 2,824
Taxes paid related to net share settlement of equity awards (25,954) (18,878)
Payment of debt issuance costs (675)  
Net cash provided by (used in) financing activities 428,157 (17,801)
Net change in cash, cash equivalents and funds held for clients' cash and cash equivalents 310,528 (28,887)
Cash, cash equivalents and funds held for clients' cash and cash equivalents-beginning of period 1,426,143 1,239,731
Cash, cash equivalents and funds held for clients' cash and cash equivalents-end of period 1,736,671 1,210,844
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Purchases of property and equipment, accrued but not paid   252
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 53  
Cash paid for income taxes, net of refunds 19 357
Reconciliation of cash, cash equivalents and funds held for clients' cash and cash equivalents to the Consolidated Balance Sheets    
Cash and cash equivalents 75,900 84,114
Funds held for clients' cash and cash equivalents 1,660,771 1,126,730
Total cash, cash equivalents and funds held for clients' cash and cash equivalents $ 1,736,671 $ 1,210,844