Cash and Cash Equivalents and Funds Held for Clients (Tables)
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12 Months Ended |
Jun. 30, 2025 |
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| Cash and Cash Equivalents and Funds Held for Clients [Abstract] |
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| Schedule of cash and cash equivalents and funds held for clients |
Cash and cash equivalents and Funds held for clients consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | | Type of Issue | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | Cash and cash equivalents | | $ | 401,811 | | $ | — | | $ | — | | $ | 401,811 | | Funds held for clients' cash and cash equivalents | | 2,443,858 | | — | | — | | 2,443,858 | | Available-for-sale securities: | | | | | | | | | | | | | | | | | | | Corporate bonds | | 314,728 | | 1,094 | | (1,002) | | 314,820 | | Asset-backed securities | | 40,653 | | 147 | | (118) | | 40,682 | | | | | | | | | | | U.S treasury securities | | 124,889 | | 36 | | (973) | | 123,952 | | | | | | | | | | | Other | | 28,875 | | 84 | | (211) | | 28,748 | | Total available-for-sale securities | | 509,145 | | 1,361 | | (2,304) | | 508,202 | | Total investments | | $ | 3,354,814 | | $ | 1,361 | | $ | (2,304) | | $ | 3,353,871 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Type of Issue | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | Cash and cash equivalents | | $ | 398,070 | | $ | — | | $ | — | | $ | 398,070 | | Funds held for clients' cash and cash equivalents | | 2,084,456 | | — | | — | | 2,084,456 | | Available-for-sale securities: | | | | | | | | | | | | | | | | | | | Corporate bonds | | 372,171 | | 6,497 | | (76) | | 378,592 | | Asset-backed securities | | 51,709 | | 476 | | (7) | | 52,178 | | Certificates of deposit | | 61,681 | | 9 | | (3) | | 61,687 | | U.S treasury securities | | 84,889 | | 402 | | (27) | | 85,264 | | | | | | | | | | | Commercial paper | | 17,273 | | — | | (1) | | 17,272 | | Other | | 24,378 | | 310 | | — | | 24,688 | | Total available-for-sale securities | | 612,101 | | 7,694 | | (114) | | 619,681 | | Total investments | | $ | 3,094,627 | | $ | 7,694 | | $ | (114) | | $ | 3,102,207 |
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| Schedule of the classification of investments |
Classification of investments on the consolidated balance sheets was as follows: | | | | | | | | | | | | | June 30, | | 2024 | | 2025 | | Cash and cash equivalents | $ | 401,811 | | $ | 398,070 | | | | | | Funds held for clients | 2,952,060 | | 2,704,137 | | | | | | Total investments | $ | 3,353,871 | | $ | 3,102,207 |
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| Schedule of available-for-sale securities that have been in an unrealized loss position for less and greater than 12 months |
Available-for-sale securities that have been in an unrealized loss position for a period of less and greater than 12 months as of June 30, 2024 and 2025 had fair market value as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | | Securities in an unrealized loss
position for less than 12 months | | Securities in an unrealized loss
position for greater than 12 months | | Total | | Gross unrealized losses | | Fair value | | Gross unrealized losses | | Fair value | | Gross unrealized losses | | Fair value | | | | | | | | | | | | | | Corporate bonds | (488) | | 105,957 | | (514) | | 30,057 | | (1,002) | | 136,014 | | Asset-backed securities | (1) | | 1,069 | | (117) | | 8,335 | | (118) | | 9,404 | | | | | | | | | | | | | | U.S. treasury securities | (157) | | 44,712 | | (816) | | 72,224 | | (973) | | 116,936 | | | | | | | | | | | | | | Other | (12) | | 3,497 | | (199) | | 10,525 | | (211) | | 14,022 | | Total available-for-sale securities | $ | (658) | | $ | 155,235 | | $ | (1,646) | | $ | 121,141 | | $ | (2,304) | | $ | 276,376 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Securities in an unrealized loss
position for less than 12 months | | Securities in an unrealized loss
position for greater than 12 months | | Total | | Gross unrealized losses | | Fair value | | Gross unrealized losses | | Fair value | | Gross unrealized losses | | Fair value | | Corporate bonds | $ | (9) | | 10,002 | | $ | (67) | | $ | 8,279 | | $ | (76) | | $ | 18,281 | | Asset-backed securities | (4) | | 4,154 | | (3) | | 2,948 | | (7) | | 7,102 | | Certificates of deposit | (3) | | 19,468 | | — | | — | | (3) | | 19,468 | | U.S. treasury securities | (25) | | 37,581 | | (2) | | 998 | | (27) | | 38,579 | | | | | | | | | | | | | | Commercial paper | (1) | | 17,272 | | — | | — | | (1) | | 17,272 | | | | | | | | | | | | | | Total available-for-sale securities | $ | (42) | | $ | 88,477 | | $ | (72) | | $ | 12,225 | | $ | (114) | | $ | 100,702 |
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| Schedule of expected maturities of available-for-sale securities |
Expected maturities of available-for-sale securities at June 30, 2025 were as follows: | | | | | | | | | | | | | Amortized cost | | Fair value | | One year or less | $ | 195,502 | | $ | 195,613 | | One year to two years | 110,280 | | 111,449 | | Two years to three years | 55,786 | | 56,432 | | Three years to five years | 239,059 | | 244,572 | | Five years and thereafter | 11,474 | | 11,615 | | Total available-for-sale securities | $ | 612,101 | | $ | 619,681 |
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