Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2015

Stock option activity for the three months ended March 31, 2015 is presented below (in thousands, except per share data):


	Number of Shares			Weighted - Average Exercise Price Per Share		Weighted - Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2014		1,954		$	33.81
Granted		44			38.64
Exercised		(20	)		28.58
Forfeited		(55	)		36.46

Outstanding at March 31, 2015		1,923		$	33.90		6.88	$	6,536

Exercisable at March 31, 2015		875		$	30.66		4.90	$	5,452

Vested and expected to vest at March 31, 2015		1,822		$	33.72		6.77	$	6,466

Details of Restricted Stock Unit Activity

Restricted stock unit activity for the three months ended March 31, 2015 is presented below (in thousands, except per share data):


	Number of Shares			Weighted- Average Grant Date Fair Value
Unvested at December 31, 2014		433		$	35.64
Granted		5			36.43
Vested		—			—
Forfeited		(21	)		35.61

Unvested at March 31, 2015		417		$	35.65

Summary of Stock-Based Compensation Recorded in Expense Categories

Stock-based compensation was recorded in the following expense categories (in thousands):


	Three Months Ended March 31,
	2015		2014
Cost of services and fulfillment	$	1,237	$	1,073
Selling and marketing		334		338
General and administrative		615		536

Total	$	2,186	$	1,947

Options Granted Under Equity Incentive Plans and Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

Options granted under the equity incentive plans and shares subject to purchase under the employee stock purchase plan were valued using the following assumptions:


	Three Months Ended March 31, 2015						Three Months Ended March 31, 2014
	Equity Incentive Plans			Employee Stock Purchase Plan			Equity Incentive Plans			Employee Stock Purchase Plan
Average risk-free interest rate		1.37	%		0.11	%		1.65	%		0.08	%
Expected dividend yield		1.8	%		1.8	%		1.8	%		1.8	%
Expected life		5.1 Years			0.5 Years			5.1 Years			0.5 Years
Expected volatility		25	%		22	%		30	%		25	%
Weighted average fair value	$	7.48		$	7.93		$	8.79		$	7.81